Clifford Chance Advises on US$1.575 Billion Sovereign Bond Offering and Related Tender Offer for the Republic of Suriname

"Clifford Chance advised BofA Securities, acting as sole initial purchaser and dealer manager, on the Republic of Suriname’s US$1.575 billion sovereign bond offering and related tender offer. The transaction comprised US$525m 7.70% notes due 2030 and US$1.05bn 8.50% notes due 2035, listed on the Luxembourg Stock Exchange."

Clifford Chance advised BofA Securities, acting as sole initial purchaser and dealer manager, in connection with the Republic of Suriname’s US$1.575 billion sovereign bond offering and the related tender offer. The Republic of Suriname issued the bonds in two series: a US$525 million series of 7.70% notes due 2030 and a US$1.05 billion series of 8.50% notes due 2035. Both series were listed on the Luxembourg Stock Exchange. Suriname will apply the net proceeds to repurchase approximately US$420 million of its 7.95% Cash/PIK Notes due 2033 that were tendered and accepted in the tender offer and to redeem the remaining outstanding 2033 notes following the tender offer. Proceeds will also be used to pay debt service on the newly issued notes and to retire a portion of Suriname’s Oil-Linked Securities via an optional payment; Suriname may additionally use some proceeds to prepay certain bilateral debt obligations. Clifford Chance represented BofA Securities, the sole initial purchaser and dealer manager, with a team composed by: partners Jonathan Zonis and Hugo Triaca; associates Alexandra Machado and Joyce Moore; and foreign law clerk Natalie Jana Deradi.

Clifford Chance Advises on US$1.575 Billion Sovereign Bond Offering and Related Tender Offer for the Republic of Suriname

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads