Clifford Chance

Clifford Chance advises on US$1 billion bond issuance by the Republic of Guatemala

Leading international law firm Clifford Chance has advised BofA Securities Inc. as initial purchaser, global coordinator and sole book-running manager, in connection with a new two-tranche notes offering by the Republic of Guatemala consisting of (a) US$500 million 3.700% Notes due 2033 and (b) US$500 million 4.650% Notes due 2041. The proceeds will be used to fund the country's budgetary needs.

The Clifford Chance team was led by Capital Markets partner Hugo Triaca in New York, with support from associate Anna Shepard, law clerk Joyce Moore and foreign law clerk Ximena López. Partner Avrohom Gelber and associate Rick Thoben advised on tax matters.

The firm has a track record of advising on similar transactions in Central America, having recently advised on the US$1.2 billion sovereign bond issuance by the Republic of Guatemala in 2020, which was the first social bond in Central America and the Caribbean and helped fund the country's response to the COVID-19 pandemic. The firm also advised the Republic of Costa Rica on its return to the international capital markets with a US$1.5 billion dual-tranche notes offering.