Republic of Guatemala Issues US$1.4 Billion in Sovereign Debt
08.13.24
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The Firm recently represented the Republic of Guatemala (the “Republic”) in connection with the issuance and sale by the Republic of US$600 million of its 6.050% Notes due 2031 (the “2031 Notes”) and US$800 million of its 6.550% Sustainable Notes due 2037 (the “2037 Notes”). The proceeds from the 2031 Notes will be used for general budget purposes, including to refinance the Republic’s public indebtedness. An amount equal to the proceeds from the 2037 Notes will be used by the Republic to finance or refinance, in whole or in part, one or more new or existing “eligible green expenditures” and “eligible social expenditures” as defined in the Republic’s Sustainable Financing Framework.
These sovereign debt offerings were conducted in reliance on the exemptions from registration under Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended, and were approved by the government of the Republic of Guatemala and managed by the Ministry of Finance.
The Simpson Thacher team for the transaction included Juan F. Mendez, Kirsten L. Davis and Matias Allende (Capital Markets); and Jonathan Cantor and Sean Largey (Tax).