Shearman & Sterling advised the underwriters, BNP Paribas, J.P. Morgan Securities plc, Merrill Lynch International, Morgan Stanley & Co International plc, in connection with the issuance of the Republic of Peru’s Euro-Denominated 1.950 percent Global Bonds due 2036, in an aggregate principal amount of €1.0 billion.
The Republic of Peru intends to use the net proceeds from this offering to finance general budgetary requirements for fiscal year 2021 and to pre-finance general budgetary requirements for fiscal year 2022. It is Peru’s intention to invest an amount equal to the proceeds from the sale of the bonds in expenditures that may qualify as “eligible social categories” under the Sustainable Bond Framework approved by Ministerial Resolution No. 221-2021-EF/52.
The Shearman & Sterling team below included visiting attorney Elias Zaga Belzer (New York-Project Development and Finance) and international associate Ana Goncalves (New York-Capital Markets).