Philippi Prietocarrizosa Ferrero Du & Uría acted as Colombian counsel to the initial purchasers in the $210 million offering by Tecnoglass.
Tecnoglass is manufacturer of architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries. The company is headquartered in Barranquilla, Colombia and is listed on Nasdaq.
The transaction is reportedly the first corporate high-yield bond to come from Colombia since 2013. The 8.200% senior notes are due in 2022 and were issued under Rule 144A and Regulation S.
Partner Hernando Padilla led the PPU team advising Bank of America Merrill Lynch, Morgan Stanley and other initial purchasers.
The banks instructed Cleary Gottlieb as US counsel.
Tecnoglass retained Simpson Thacher in the US and Gomez Pinzón Zuleta in Colombia.