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News Oct 02, 2019

Republic of Uruguay’s Tender Offer and Bond Issuance

Shearman & Sterling advised Goldman Sachs & Co. LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc., as dealer managers, in connection with an offer to purchase for cash made by the Republic of Uruguay for its U.S. dollar-denominated 8.000 percent global bonds due 2022, 4.500 percent global bonds due 2024 and 4.375 percent global bonds due 2027.

Shearman & Sterling also advised Goldman Sachs & Co. LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc., as joint-book runners, on the Republic of Uruguay’s SEC-registered reopening of its 4.375 percent U.S. dollar-denominated bond due 2031 and reopening of its 4.975 percent U.S. dollar-denominated bond due 2055 in an aggregate principal amount between the two bonds of $1.05 billion. 

The Republic of Uruguay will use the net proceeds from the offerings for general purposes of the government, including financial investment and the refinancing, repurchase or retiring of domestic and external indebtedness.

The Shearman & Sterling team below included associate Ahuva Weinreich and visiting attorney Sofia Gallo.

The Team

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