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Transactions

sovereign bonds

Fourth sovereign bonds issuance by the Government of Honduras

The Government of Honduras recently carried out a successful placement of sovereign bonds, now for the order of USD 600 million. García & Bodán Honduras was part of this important transaction by providing legal advice to the Secretary of Finance (SEFIN, by its acronyms in Spanish), in the placement of these bonds in the international capital markets; another of the largest transactions in recent Honduran history.

The issuance was accomplished through an agreement between the Republic of Honduras, Oppenheimer & Co. Inc. and Banco Atlántida de Honduras, obtaining a rate of 5.625% at a maturity term of 10 years.

The legal advice consisted in the revision of the legal documents concerning to the transaction, as well as its structure at local level. The lawyers worked together with the Secretary of Finance in the elaboration of the specific legislation (authorizations) required for the issuance, same that was forwarded to the legislature for its revision and final approbation, in order to confirm its compliance with Honduras laws and regulations, as well as the legal opinion affirming such situation.

The work performed by García & Bodán Honduras was led by its Managing Partner Vanessa Oquelí along with Partners Ricardo Duarte and Godofredo Siercke. This is the fourth bond issue accomplished in Honduras, being the Firm part in all of them.

In this transaction, the following law firms also participated:

Arnold & Porter – US counsel to the Republic of Honduras

Sherman & Sterling, US counsel to Oppenheimer & Co. Inc. and Banco Atlántida de Honduras.

López Rodezno & Asociados – Honduran counsel to Oppenheimer & Co. Inc. and Banco Atlántida de Honduras.

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