Simpson Thacher advises purchases on $800m Peruvian notes offerings

Simpson Thacher represented the initial purchasers in relation to offerings by Peruvian Government-owned Corporación Financiera de Desarrollo S.A. (COFIDE) of $200 million of 3.25% notes due 2019 and $600 million of 4.75% notes due 2025.


The initial purchasers advised by the firm were Citibank, Morgan Stanley and Standard Chartered Bank.

The offerings were conducted under Rule 144A and Regulation S under the U.S. Securities Act of 1933.

COFIDE is focused on financing Peru’s economic and social development programmes, particularly the micro and small enterprise lending sector as well as infrastructure and environmental projects.

The net proceeds from the offerings are expected to be used for general business purposes, including funding COFIDE’s extension of new loans.

The Simpson Thacher team included Juan Francisco Méndez, Luis Pellerano and Diego Kexel (Capital Markets); and Jonathan Cantor and Jodi Sackel (Tax). 

Ben Cook