Topic: Sovereign finance

Are social bonds the answer to Latin America’s liquidity needs?

Featured in Covid-19: reporting on a crisis

Social bonds allocated to environmental, social and governance (ESG) assets were a relatively new phenomenon in Latin America prior to the covid-19 crisis. But as states, quasi-sovereigns and corporates scramble to shore up their finances in the wake of the pandemic, social bonds could present a much-needed source of liquidity. New York-based Linklaters counsel Alejandro Gordano weighs up the pros and cons of the novel financing instrument.

27 April 2020

Ecuador first to issue sovereign social bonds

Three Hogan Lovells LLP offices have helped Ecuador become the world’s first country to issue sovereign social bonds, worth US$400 million, which it will use to fund its nationwide social housing project.

05 February 2020

Peru continues offering sovereign bonds in local currency

Simpson Thacher & Bartlett LLP’s New York office and Estudio Echecopar member firm of Baker McKenzie International in Lima have helped the Republic of Peru issue bonds worth 10.4 billion soles (US$3.1 billion) in what was 2018’s largest sovereign issuance in local currency by any emerging economy.

04 January 2019

Simpson Thacher, Shearman and Consortium structure Guatemalan sovereign issuance

The New York office of Simpson Thacher & Bartlett LLP has helped the Republic of Guatemala issue sovereign notes worth US$700 million.

10 May 2016

Paraguay makes US$280 million sovereign debt offering

Paraguay has issued US$280 million worth of sovereign bonds with the help of Parquet & Asociados in Asunción and Sullivan & Cromwell LLP’s New York office – though the international counsel did not confirm before publication.

30 April 2015

Mexico issues first LatAm sovereign bonds with new collective action clause

Cleary Gottlieb Steen & Hamilton LLP in New York and Buenos Aires has helped Mexico become the first country in Latin America to issue sovereign bonds with new IMF-endorsed collective action clauses (CACs) designed to avoid another Argentina-style holdout conflict.

26 November 2014

Singapore sovereign fund continues Brazilian buying spree

Demarest Advogados in São Paulo have helped Singapore sovereign fund GIC make a US$75 million investment in a Brazilian data management company owned by private equity manager KKR.

03 September 2014

Teams reconvene for Chilean sovereign bonds

Morales & Besa and Cleary Gottlieb Steen & Hamilton LLP have assisted the Republic of Chile in issuing 10-year bonds worth US$1 billion.

13 September 2011

Argentine province wins sovereign restructuring dispute

Argentina's Mendoza province has won an appeal before a US court, confirming the use of exit consents in the province's 2004 sovereign debt restructuring.

27 April 2006

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