Shearman & Sterling represented Grupo de Inversiones Suramericana S.A. (“Grupo SURA”) in connection with the issuance of $550 million principal amount of 5.500% notes due 2026 by Gruposura Finance, Grupo SURA’s wholly
-owned subsidiary. The notes are fully and unconditionally guaranteed by Grupo SURA. J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book-running managers in the transaction.
Grupo SURA is the parent company of a group of leading companies operating primarily in the financial services sector in Latin America, including mandatory pension fund, voluntary savings and insurance companies, and the principal shareholder of Bancolombia, which is engaged in universal banking activities in Colombia and Central America.
The following Shearman & Sterling team advised Grupo SURA in the transaction: partner Antonia Stolper (New York-Capital Markets); counsel Grissel Mercado (New York-Capital Markets); and associates Maria Marulanda Larsen (New York-Capital Markets) and Erica Kassman (New York-Corporate). Other Shearman & Sterling lawyers involved in the transaction were of counsel Paul Schreiber (New York-Asset Management); counsel Tom Majewski (New York-Asset Management); and associates Amy Watt (London-Asset Management), Jeffrey Tate (Washington, DC-Tax) and Eric Grosshandler (New York-Tax).