Hogan Lovells helps El Salvador raise $US1.1 billion in bonds in advantageous market

New York, 6 August 2019 – A team from global law firm Hogan Lovells represented Citigroup and Scotiabank as Joint Bookrunning Managers in the sale of US$1.097 billion of 30-year bonds by The Republic of El Salvador.

The transaction, which closed today, carries a coupon of 7.1246 percent.

The Hogan Lovells team representing Citigroup and Scotiabank was led by partner Evan Koster, and included partner Emil Arca, senior associate Flavio Averbug, and associate Juan Moreno, all based in the firm’s New York office. Arnold & Porter Kaye Scholer LLP acted as counsel to the Republic of El Salvador. LatamLex served as local counsel for the banks, and Consortium Legal was local counsel to the Republic of El Salvador.

Hogan Lovells’ participation in this transaction solidifies its leading role in capital market transactions for Central American issuers. The firm represented the Republic of Guatemala in its US$1.2 billion bond issuance in June 2019, and has represented numerous clients in debt offerings and remittances and diversified payment rights (DPR) securitizations throughout the region.

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