Linklaters represented the initial purchasers and dealer managers in connection with the Republic of Paraguay’s international offerings of USD 300 million of additional 6.650% notes due 2055 and PYG 6.51 trillion of 8.500% notes due 2038.
The tender offer launched on February 17, 2026, and expired on February 23, 2026. The bond offerings launched on February 16, 2026, and priced on February 24, 2026. The bond offerings and the tender offer closed on March 4, 2026.
A portion of the proceeds from the offering was used to purchase certain outstanding USD-denominated notes of the Republic of Paraguay due 2027 and 2031 that were accepted as part of the concurrent cash tender offer. The balance of the proceeds will be used for general purposes of the government.
The Linklaters deal team was led out of São Paulo and New York by Partners Matthew Poulter and Emilio Minvielle, alongside Associate Thomas Tiphaine Koffman, Foreign Attorney Francisco Algorta, and Paralegal André Benicio. Additional Tax support on the deal was provided by Partner Gabriel Grossman and Associate Allan Paul Talde.
Linklaters’ lawyers have practiced in Latin America for decades and the firm was one of the first international firms to open an office in Brazil in 1997. With a growing team of Latin America-focused lawyers across the firm’s New York, Washington, D.C., and São Paulo offices, as well as the Mexico group, the firm continues to increase its presence in the region and deepen existing relationships with leading local law firms. Linklaters is highly ranked across key Latin America legal directories, including Chambers, Legal 500, and Latin Lawyer.
