SURA Asset Management S.A.’s $350 Million Offering of Senior Guaranteed Notes

Shearman & Sterling, Posse Herrera Ruiz, Larraín Rencoret & Urzua, Galicia Abogados, Payet, Rey, Cauvi, Pérez Abogados, Simpson Tacher & Bartlett and Gómez Pinzón Zuleta Abogados S.A. have advised on the transaction

SURA Asset Management S.A. completed a private offering of $350 million aggregate principal amount of 4.375% senior guaranteed notes due 2027. The notes are fully and unconditionally guaranteed by four of SURA AM’s subsidiaries.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC acted as joint bookrunners in the transaction.

SURA AM, headquartered in Colombia, is the largest pension fund manager in Latin America, with a top four ranking in the Chilean, Mexican, Peruvian and Colombian markets, as measured by assets under management. SURA AM offers a diverse range of savings solutions through mandatory pension funds, voluntary savings products, and life insurance and annuities to its 18.7 million clients.

The Shearman & Sterling team included partner Antonia Stolper (Picture) (New York-Capital Markets); counsel Grissel Mercado (New York-Capital Markets) and Jeffrey Tate (Washington, DC-Tax); associates Antonio Herrera Cuevas (San Francisco-Capital Markets) and Adam Sternberg (Washington, DC-Tax); and visiting attorney Maria Martella (New York-Capital Markets).

In Colombia Posse Herrera Ruiz has advised SURA AM with Mariana Posse, Lina Lineros, María Fernanda Flórez and Rodrigo Salas.

Involved fees earner: Mariana Posse – Posse Herrera Ruiz; Lina Lineros – Posse Herrera Ruiz; Antonia Stolper – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Antonio Herrera Cuevas – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Adam Sternberg – Shearman & Sterling;

Law Firms: Posse Herrera Ruiz; Shearman & Sterling;

Clients: SURA Asset Management S.A.;

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Author: Ambrogio Visconti.