Simpson Thacher and Cleary in Guatemala’s $565m sovereign debt
Simpson Thacher advised the Republic of Guatemala in connection with the issuance and sale of US$565 million of its 7.050% Notes due 2032. Santander US Capital Markets acted as initial purchaser, advised by Cleary Gottlieb.
The proceeds of the Notes will be used for general budgetary purposes, including the refinancing of the Republic’s public debt. The transaction was priced on 27 September and is expected to settle in early October.
The sovereign debt offerings were made under exemptions from registration under Rule 144A and Regulation S of the US Securities Act of 1933, as amended. The transaction was approved by the government of the Republic of Guatemala and managed by the Ministry of Finance.
Simpson Thacher’s team included partner Juan F. Mendez (pictured top left), counsel Kirsten L. Davis, associate Alejandro de Ramon-Laca and international associate Ximena Bedoya from the Capital Markets team; and partner Jonathan Cantor (pictured top right) and associate Adam Hersch from the Tax team.
Cleary’s corporate team comprised partners Manuel Silva (pictured bottom left) and Jorge Juantorena (pictured bottom right), associates Ignacio Lagos and Martin Sasson, and international lawyer Lucia De Miceu. Counsel Matthew Brigham and associates Adriana De Bartolo and Joseph Roy provided tax advice. All lawyers are based in New York, except Joseph Roy who is based in San Francisco.
