The Republic of Colombia closed a €4.1 billion SEC-registered offering of global bonds, consisting of its 3.75% global bonds due 2028, its 5% global bonds due 2032 and its 5.625% global bonds due 2036. The global bonds are listed on the Luxembourg Stock Exchange and admitted for trading on its Euro MTF Market and on the London Stock Exchange. The issuance was Colombia’s largest bond offering in history and its first eurobond offering completed in nearly a decade.
Concurrently with the offering, Colombia completed a one-day cash tender offer for certain of its outstanding bonds.
S&C, which acts as regular underwriters’ counsel in offerings by Colombia, including this year’s $3.8 billion global bond offering and last year’s $3.6 billion global bond offering, represented Banco Bilbao Vizcaya Argentaria, BNP PARIBAS and Citigroup Global Markets Limited, as joint lead underwriters and joint dealer managers.
The S&C team advising on the transaction consisted of Chris Mann, Alan Fishman, Andrea González Morales and Cameron Jenkins. Jeff Hochberg advised on tax matters. Vanessa Blackmore and trainee solicitor Alex Goulding advised on UK/EEA matters.