LONDON and NEW YORK, January 3, 2020: Morgan Lewis advised the Republic of Suriname on a $125 million sovereign bond offering that closed on December 20, 2019. The offering was made pursuant to Rule 144A and Regulation S, and the bonds are listed on the Luxembourg Stock Exchange.
The proceeds of the offering were used to make a payment to Suriname Aluminum Company (Suralco), a subsidiary of Alcoa, in connection with the transfer by Suralco to the government of the Afobaka hydroelectric dam, which is the largest power station in the country. The transfer of the dam is part of a broader reform of the country’s electricity sector.
Partner Carter Brod in London led the team advising the Republic of Suriname, which included partners Neeraj Arora in Los Angeles, Thomas Mellor and Timothy DeSieno in New York, and Edwin Smith and Alan Beloff in Boston.
Morgan Lewis has advised Suriname on several debt offerings, including its $550 million debut sovereign bond offering in 2016.