Shearman And Sterling

News October 07, 2016

Shearman & Sterling Advises on Republic of Peru's Tender Offer and Issuance of Sol-Denominated Bonds

Shearman & Sterling advised BBVA Banco Continental, BBVA Securities Inc., HSBC Securities (USA) Inc. and Merrill, Lynch, Pierce, Fenner & Smith Incorporated on the Republic of Peru's offer to purchase for cash various series of its Global Bonds and Bonos Soberanos, including in the form of Global Depositary Notes.

Shearman & Sterling also advised BBVA Banco Continental as initial purchaser and BBVA Securities Inc., HSBC Securities (USA) Inc., and Merrill, Lynch, Pierce, Fenner & Smith Incorporated, as global coordinators and joint-bookrunners in connection with the Republic of Peru’s Rule 144A and Regulation S issuance of its 6.350% Bonos Soberanos due 2028 for an aggregate principal amount of S/.10,251,560,000, of which S/.4,634,313,000 were sold in the form of global depositary notes (GDNs) by the global coordinators and joint-bookrunners.

The net proceeds from the offerings will be used by the Republic of Peru to manage external and internal liabilities.

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