Linklaters Advises Citi, Goldman Sachs, and Itau BBA in Republic of Paraguay’s First Ever Local Currency International Offering
Paraguay issues $500 million and ₲3.64 trillion bond offerings and concurrent cash tender offer
Linklaters represented Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, and Itau BBA USA Securities, Inc. acting as Initial Purchasers and Dealer Managers in connection with the international offerings of $500 million of notes due 2036 and ₲3.64 trillion of notes due 2031, being the first Guaraníes-denominated offering by the Republic of Paraguay in international capital markets. The bond offerings launched on January 26, 2024, priced on February 5, 2024, and closed on February 9, 2024. The offering of the notes was made concurrently with a cash tender offer to purchase certain outstanding USD-denominated notes of the Republic of Paraguay due 2026.
The Republic of Paraguay will use a portion of the proceeds of the sale of the notes to pay the purchase price of the existing notes accepted in the cash tender offer. The balance of the proceeds will be used for general purposes of the government.
