Echecopar assists in issuance of social bonds of COFIDE
Estudio Echecopar, associated with Baker & McKenzie International, has assisted JP Morgan Securities LLC and Santander US Capital Markets LLC, as initial purchasers and dealer managers, in connection with the issuance of senior notes denominated 5,950% Notes due 2029 for a total amount of USD 300,000,000 of Corporación Financiera de Desarollo (COFIDE).
The transaction also involved the offer to repurchase COFIDE’s 5,250% Fixed-to-Floating Subordinated Notes due 2029 for an aggregate principal amount of USD 255,000,000, pursuant to Rule 144-A and Regulation S under the U.S. Securities Act of 1933, as amended.
The net proceeds of the issue will be used to (i) pay the consideration and accrued and unpaid interest in connection with a cash tender offer for the USD 255,000,000 5.250% Fixed-to-Floating Subordinated Bonds due 2029 of COFIDE also issued by COFIDE, and (ii) finance or refinance one or more new or existing social projects in accordance with COFIDE’s Thematic Bond Framework.
Echecopar’s team was composed of partners Alonso Miranda (pictured left) and Pablo Berckholtz (pictured right), senior associate Adrian Tovar and associate Lara Sarlui.
