Shearman & Sterling represented SURA Asset Management S.A. (“SURA AM”) in connection with a private offering of $350 million aggregate principal amount of 4.375% senior guaranteed notes due 2027. The notes are fully and unconditionally guaranteed by four of SURA AM’s subsidiaries. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC acted as joint bookrunners in the transaction.
SURA AM, headquartered in Colombia, is the largest pension fund manager in Latin America, with a top four ranking in the Chilean, Mexican, Peruvian and Colombian markets, as measured by assets under management. SURA AM offers a diverse range of savings solutions through mandatory pension funds, voluntary savings products, and life insurance and annuities to its 18.7 million clients.
The Shearman & Sterling team included partner Antonia Stolper (New York-Capital Markets); counsel Grissel Mercado (New York-Capital Markets) and Jeffrey Tate (Washington, DC-Tax); associates Antonio Herrera Cuevas (San Francisco-Capital Markets) and Adam Sternberg (Washington, DC-Tax); and visiting attorney Maria Martella (New York-Capital Markets).