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Third sovereign bonds issuance by the Government of Honduras

The Government of Honduras recently carried out a successful placement of sovereign bonds for the order of USD 700 million. García & Bodán Honduras was part of this historic 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; one of the largest transactions in recent Honduran history.

The issuance was accomplished through an Agreement between the Republic and the Bank of New York Mellon, obtaining a rate of 6.25% at a maturity term of 10 years.

The legal advice consisted in the revision of the legal documents concerning to the transaction 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 Partner Ricardo Duarte  and Senior Associate Godofredo Siercke. This is the third 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 Bank of America Merrill Lynch and Citi

López Rodezno & Asociados – Honduran counsel to The Bank of New York Mellon