Arnold & Porter Advises the Republic of Colombia on its Largest Ever International Bond Offering

Arnold & Porter, which has advised the Republic of Colombia on global finance matters for almost two decades, played a key role in guiding the country through its largest bond deal in its history.

This latest transaction is a dual-tranche bond and tender offering that includes US$2 billion of 7.750% Global Bonds due 2036 and US$1.64 billion of 8.375% Global Bonds due 2054.

The bonds have been listed in the Euro MTF Market of the Luxemburg Stock Exchange, as well as in the London’s Stock Exchange International Securities Market. Colombia will use the proceeds for general budgetary purposes, as well as for Liability Management operations including US$639,274,000 intended to fund the purchase of Tender Orders made by holders of Colombia’s 4.500% 2026 Bonds and 3.875% 2027 Bonds.

The deal closed on November 7.

The Arnold & Porter team was led by partner Greg Harrington and included partners Simon Firth and David Sausen, counsel Carlos Pelaez, senior associate Mateo Morris, and associates Alexa Krantz and Lauren Hoepfner.*

*Mateus Maia de Souza, a visiting attorney from Brazil, also assisted the team with aspects of the deal. Mr. Maia is admitted to practice law only in Brazil. He is not engaged in the practice of law in any U.S. jurisdiction.