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Expertise

Sovereign Debt

Our Sovereign Debt practice is dedicated to offering expert guidance and legal counsel to the Republic of Colombia, quasi-sovereign entities, state-owned entities and other governmental instrumentalities in structuring, negotiating and closing of external and internal indebtedness operations, public debt securities issuance, in public-debt related transactions such as financial derivatives, and in debt management operations and other associated transactions therewith.  

Our experience also extends to representing financial institutions, including commercial banks, development banks and multilateral entities, in navigating through these operations.  

Understanding the nuances of public procurement and applicable budgetary regime in Colombia is key to this area of practice, and thus we have a highly specialized team who possess the necessary knowledge and experience to ensure compliance with regulatory requirements, while maximizing financial benefits for our clients.  

We are committed to assist our clients at every stage of the transaction and thus, we accompany them in filing and negotiating credit documentation with the Colombian Ministry of Finance to ensure the acquisition of necessary authorizations and approvals required for entering into indebtedness and derivative transactions.  

Moreover, we pride ourselves on structuring unprecedent milestone transactions, such as the first credit agreement authorized by the Ministry of Finance which incorporated an embedded derivative in its structure. Additionally, we advised and represented a quasi-sovereign in a transaction which was not only the first long-term loan granted exclusively for the repayment of a bridge loan but was also the first-ever NY-law governed loan approved by the Ministry of Finance that incorporated SOFR as a benchmark.  

 

Specialties 

  • External and internal indebtedness operations 
  • Public debt-related transactions, debt management operations and other associated transactions therewith 
  •  Public debt securities issuance 
  • Issuance of securities by  
  • Budgetary regime 
  • Acquisition of necessary authorizations and negotiations with the Ministry of Finance

Sovereign Debt Deals

Asesoría a AFD en un crédito externo otorgado a EPM por EUR180millones

Asesoramos a Agence Française de Développement (AFD) en la negociación y cierre de un crédito otorgado a EPM por EUR180millones para la financiación de su Plan de Inversiones, principalmente en proyectos de agua, saneamiento y energía.

Asesoría a Barranquilla en un crédito externo por USD100millones otorgado por Deutsche Bank

Asesoramos al Distrito de Barranquilla en la negociación y cierre de un crédito por USD 100 millones otorgado por Deutsche Bank AG para el repago de un crédito a corto plazo y la financiación de proyectos sociales y de infraestructura pública.

Asesoría a Caoba, Celsia y Cúbico en la financiación para su expansión en Colombia

Asesoramos a Caoba Inversiones (una plataforma de activos de transmisión de energía en Colombia creada en conjunto entre Celsia Energía y Cubico Sustainable Investments) en la estructuración, negociación y cierre una facilidad de crédito en varios tramos y múltiples monedas, otorgada por The Bank of Nova Scotia, Export Development Canada y Scotiabank Colpatria por USD335 millones. Los recursos del crédito fueron usados para la adquisición de activos de transmisión en 3 departamentos de Colombia y la construcción de la Subestación de Toluviejo y una línea de transmisión del STN de 160km. Por la complejidad e innovación de esta asesoría fuimos nominados a los Latin Lawyer Awards 2020.

Contacts

Mateo Mendoza

Partner

Lina María Londoño

Senior Associate

Luis Armando Tolosa

Associate