Simpson Thacher advised Peruvian fund MIVIVIENDA on concurrent bond offerings for the expansion of its loan portfolio and general corporate purposes.
Both transactions were issued in reliance on Rule 144A and Regulation S under the Securities Act. The fund sold Peruvian Soles 1,500 million ($460 million) of its 7% Bonos Corporativos due 2024, including Peruvian Soles 927 million ($285 million) issued in global depositary notes by Citibank, through its depositary notes program, and the concurrent offering of US$150 million of its 3.5% Notes due 2023 (representing an additional issuance of the company’s outstanding 3.5% Notes due 2023).
Fondo MIVIVIENDA is a for-profit entity owned by the Republic of Peru. The fund was established to provide access to finance to lower- and middle-income working families.
Morgan Stanley and Scotia Capital (USA) acted as the initial purchasers.
Partner Jaime Mercado led the Simpson Thacher team acting for MIVIVIENDA.