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Nachrichten Dec 13, 2018

Republic of Peru’s Tender Offer and Offering of Euroclearable Bonos Soberanos

Shearman & Sterling advised J.P. Morgan Securities plc, Morgan Stanley & Co. LLC, Santander Investment Securities Inc., Scotiabank Perú S.A.A. and Scotia Capital (USA) Inc. on the offer to purchase for cash made by the Republic of Peru of its 7.125% global bonds due 2019 and various series of its Bonos Soberanos, including in the form of global depositary notes (GDNs).

Shearman & Sterling also advised J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc., Scotiabank Perú S.A.A. and Scotia Capital (USA) Inc., as global coordinators and joint-bookrunners, in connection with the Republic of Peru’s Rule 144A and Regulation S offering of S/10,350,000,000 aggregate principal amount of  its 5.94% Bonos Soberanos due 2029, settled, traded and held through the facilities of Euroclear Bank S.A./N.V., as operator of the Euroclear Clearance System plc and CAVALI S.A., of which S/1,224,077,000 were sold in the form of GDNs by the global coordinators and joint bookrunners.

The net proceeds from the offerings will be used by the Republic of Peru to finance the liability management transaction and to pre-finance a portion of the general requirements for the fiscal year 2019.

The Shearman & Sterling team below also included visiting attorney Victoria Tuculet.

The Team