Arnold & Porter Advises Honduras on Its First-Ever Sustainable Bond

Arnold & Porter advised the Republic of Honduras in connection with its offering of US$700 million of its 8.625% Notes due 2034. The notes were issued under the Republic’s Green, Social, and Sustainable Bond Framework, representing Honduras’ first sustainable bond issuance. The deal underscores the firm’s market leadership in sovereign sustainable bonds, having now advised four countries — Brazil, Colombia, Honduras, and Turkey — on such issuances.

The notes offering was conducted under exemptions from the U.S. Securities and Exchange Commission’s registration requirements laid out in Rule 144A for sales to qualified institutional buyers and Regulation S for sales outside the U.S. The offering closed on November 27, 2024, and the newly issued notes were listed on the Luxembourg Stock Exchange.

The Arnold & Porter team was led by partner Whitney Debevoise and counsel Arturo Caraballo and included partner David Sausen and associates Valentina Garzon and Lauren Hoepfner.