Sura Asset Management issue of senior guaranteed notes

Posse Herrera Ruiz acted as local legal counsel to Sura Asset Management in its issuance of senior unsecured guaranteed Notes due 2027 worth US$350,000,000 aggregate principal amount under Rule 144A/Reg S, underwritten by BofA Merrill Lynch and Morgan Stanley. 

The Notes had an excess demand of more than 8 times the amount offered. The use of proceeds of the Notes will be used for general corporate purposes, including repay certain outstanding debt.

Sura Assest Management, subsidiary of Grupo SURA, is one of the largest Pension Management firms in Latin America, with more than US 113 thousand million in assets under management and operations in Colombia, Chile, México, Perú, El Salvador and Uruguay.

Closing Date: April 11, 2017.

LEGAL ADVISORS

Counsel to Sura Asset Management

U.S. counsel: Shearman & Sterling LLP

Colombian counsel: Posse Herrera Ruiz - Partner Mariana Posse, and Associates Lina Lineros, María Fernanda Flórez, Rodrigo Salas. 

Chilean counsel: Larraín Rencoret & Urzua Abogados

Mexican counsel: Galicia Abogados, S.C.

Peruvian counsel: Payet, Rey, Cauvi, Pérez Abogados.

Internal Uruguayan counsel: Javier Domínguez

Counsel to Underwriters

U.S. counsel: Simpson Tacher & Bartlett LLP, New York, New York.

Colombian counsel: Gómez Pinzón Zuleta Abogados S.A.