Republic of Peru’s $5 Billion Global Bonds Offering

Shearman & Sterling and Payet, Rey, Cauvi, Pérez represented the underwriters in the offering while Paul Hastings, LLP and Hernández & Cía. advised the Republic of Peru.

The Republic of Peru executed its 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. The underwriters included BofA Securities, INC., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.

The Republic of Peru also executed a Euro-Denominated 1.250% Global Bonds due 2033 for a total amount of €825,000,000, in which the underwriters were J.P. Morgan Securities plc, Merrill Lynch International and Morgan Stanley & Co. International plc.

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 included Grissel Mercado (Picture), Antonia E. Stolper, Maria Marulanda Larsen, Larry Crouch, Thomas Donegan, Oliver Linch, Eric Grosshandler, Daniel Kachmar, and Elias Zaga Belzer.

Payet, Rey, Cauvi, Pérez Abogados advised the underwriters with Jose Cúneo and Mario Lercari.

Corporate Finance practice partner Cathleen McLaughlin led the Paul Hastings team, which also included associates Inho Ko, Eduardo Morande, and Diana Felipe. The team was assisted by Tax partner David Makso and associate Rob Wilson.

In Perù, Hernández & Cía. Abogados advised the Republic of Perù with José Manuel Abastos, Juan Luis Hernández Gazzo, Erick Calla, Andrés Marcos Balabarca and María Alejandra Justo.

Involved fees earner: José Manuel Abastos – Hernández & Cía Abogados; Erick Calla – Hernández & Cía Abogados; Juan Luis Hernández – Hernández & Cía Abogados; María Alejandra Justo – Hernández & Cía Abogados; Andrés Marcos – Hernández & Cía Abogados; Inho Ko – Paul Hastings; David Makso – Paul Hastings; Cathleen McLaughlin – Paul Hastings; Rob Wilson – Paul Hastings; José Cúneo Galdós – Payet, Rey, Cauvi, Pérez, Mur; Mario Lercari – Payet, Rey, Cauvi, Pérez, Mur; Larry Crouch – Shearman & Sterling; Thomas Donegan – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Oliver Linch – Shearman & Sterling; Maria Marulanda Larsen – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Antonia Stolper – Shearman & Sterling;

Law Firms: Hernández & Cía Abogados; Paul Hastings; Payet, Rey, Cauvi, Pérez, Mur; Shearman & Sterling;

Clients: Bank of America Securities; J.P. Morgan Securities LLC; Merrill Lynch International; Morgan Stanley; Republic of Peru;

Author: Martina Bellini