Republic of Peru Completes Issuance of US$4 Billion of Global Bonds, Including a Century Bond
12.02.20
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The Firm recently represented the Republic of Peru in connection with the issuance and sale of US$1 billion aggregate principal amount of its 1.862% U.S. Dollar-Denominated Global Bonds Due 2032, US$2 billion aggregate principal amount of its 2.78% U.S. Dollar-Denominated Global Bonds Due 2060 and US$1 billion aggregate principal amount of its 3.23% U.S. Dollar-Denominated Global Bonds Due 2121 in an SEC-registered offering. BBVA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Itau BBA USA Securities Inc. and Morgan Stanley & Co. acted as underwriters. The 3.23% U.S. Dollar-Denominated Global Bonds Due 2121 represented the first issuance of a century bond by the Republic.
Proceeds from the offering will be used to finance expenditures relating to the prevention and containment of COVID-19, as well as for the stimulation of the economy and for expenditures included in the public sector budget for fiscal 2020. The issuance was approved by the government of the Republic of Peru and managed by the Ministry of Economy and Finance (MEF).
The Simpson Thacher team for the transaction included Jaime Mercado, Kirsten L. Davis and Laura Ribero (Capital Markets); and Jonathan Cantor and Brian Mendick (Tax).