Hogan Lovells and Clifford Chance advised on the Republic of Ecuador’s US$4 billion return to the international capital markets through a dual-tranche sovereign bond issuance and a related liability management exercise.
The transaction represents Republic of Ecuador’s first return to the international capital markets since it restructured its outstanding bonds in 2020. The dual-tranche bond issuance totaled US$4 billion, with approximately US$3 billion allocated to fund a tender offer for Ecuador’s existing 2030 and 2035 bonds.
Hogan Lovells advised the Republic of Ecuador on the bond issuance and the related tender offer.
The transaction team was led by Partners Ben Garcia and Bruno Ciuffetelli, with support from Partners Jorge Diaz-Silveira, Scott Lilienthal and Aleksander Dukic. The team also included Senior Counsel Gonzalo Rodriguez-Matos, Senior Associates Kat Tyurin, Pablo Castiella and Mariana Avendano, and Law Clerk Ana Laura Pongeluppi.
Clifford Chance advised Bank of America and Citigroup on the bond issuance and associated liability management transaction.
The cross-border team was led by Partners Deborah Zandstra and Jon Zonis, with support from Senior Associates Azam Taiyeb and James Kelton, Associate Alexandra Machado, Foreign Law Clerk Natalie Jana Deradi, and Trainee Caitlin Maxwell.
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