Shearman & Sterling advised the underwriters, BofA Securities, INC., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, in connection with the issuance of the Republic of Peru’s U.S. Dollar-Denominated 2.783% Global Bonds due 2031, 3.300% Global Bonds due 2041 and 3.550% Global Bonds due 2051, in an aggregate principal amount among the three series of $4.0 billion. Shearman & Sterling also advised the underwriters, J.P. Morgan Securities plc, Merrill Lynch International and Morgan Stanley & Co. International plc, in connection with the issuance of the Republic of Peru’s Euro-Denominated 1.250% Global Bonds due 2033 for a total amount of €825,000,000. The total amount issued by Peru across all for tranches of the U.S. Dollar-Denominated and Euro-denominated bonds is approximately $5.0 billion.
The Republic of Peru will use the net proceeds from the offering to finance general budgetary requirements for the 2021 fiscal year.
The Shearman & Sterling team below also included visiting attorney Elias Zaga Belzer.