IFLR1000

Grupo De Inversiones Suramericana $550 million bond issue

29/4/2016
Investment grade bond/note issue, Refinancing
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$ 550 million

Completed

29/4/2016

Overview:

  • Grupo De Inversiones Suramericana (Grupo SURA) has issued $550 million in bonds to repay a $540 million bridge loan granted by Bank of America and JPMorgan.
  • Bank of America (under Merrill Lynch Pierce Fenner & Smith) and JPMorgan also acted as initial purchasers.
  • The bridge loan was executed on February 29 2016 and the notes issued on April 29.
  • Posse Herrera Ruiz (Mariana Posse) and Shearman & Sterling (Antonia Stolper, Alexandro Padres) advised Suramericana.
  • Gómez Pinzón Zuleta (Ricardo Fandiño, Daniel Londoño) and Simpson Thacher & Bartlett (Juan Francisco Mendez, Alan Brenner) advised the banks.

Rani Mehta - Journalist - Latin America

Jurisdiction:

Colombia

Deal types:

Investment grade bond/note issue
Refinancing

Practice areas:

Banking
Capital markets : Debt

Industry sectors:

Financial services
Insurance

Firms:
Gómez-Pinzón

Party: Bank of America Merrill Lynch (Initial purchaser, Lender)

Party: JP Morgan (Initial purchaser, Lender)

Lawyer: Ricardo Fandiño de La Calle

Posse Herrera Ruiz

Party: Grupo De Inversiones Suramericana (Borrower, Issuer)

Lawyer: Mariana Posse

Shearman & Sterling

Party: Grupo De Inversiones Suramericana (Borrower, Issuer)

Lawyer: Antonia Stolper

Simpson Thacher & Bartlett

Party: Bank of America Merrill Lynch (Initial purchaser, Lender)

Party: JP Morgan (Initial purchaser, Lender)

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