Simpson Thacher Represents Initial Purchasers in Connection With US$500 Million Notes Offering by COFIDE and Dealer Managers in Concurrent Tender Offers
10.06.20
This is only gets display when printing
The Firm represented HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC, as initial purchasers, in connection with offering by Corporación Financiera de Desarrollo S.A. (COFIDE) of US$500 million of its 2.4% Notes due 2027. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended. The net proceeds from the offering, along with cash on hand, were used to fund the repurchase of approximately US$364 million of COFIDE’s outstanding 4.75% Notes due 2022 and US$189 million of COFIDE’s outstanding 4.75% Notes due 2025 in concurrent intermediated capped tender offers. The Firm also represented HSBC Securities (USA) Inc. as purchaser and HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as dealer managers in the tender offers.
COFIDE is a development bank owned by the government of Peru, focused on financing Peru’s economic and social development programs, particularly through lending to micro- and small-enterprises, as well as through the financing of infrastructure projects and companies in key economic sectors.
The Simpson Thacher team for the offering included Juan Francisco Mendez, Kirsten L. Davis and Claudia Calderon (Capital Markets); and Jonathan Cantor (Tax).