Sura Asset Management successfully issues $500 million in international bonds

Cuatrecasas has advised JPMorgan Chase Bank & Co. and Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”) as the initial purchasers in a successful $500 million bond issue by Sura Asset Management—a subsidiary of the Sura Group—and leader in retirement savings, investments and asset management in Latin America.

The bond issue, which is due 2032, does not imply an increase in the company's debt. It was four times oversubscribed, showing an extraordinary level of interest by global investors.

The transaction is part of Sura Asset Management’s financial management strategy and seeks to refinance bank loans entered into in 2024 with BBVA and JPMorgan and that are due in 2027. Both financial institutions acted as investment banks.

Managing partner for the Cuatrecasas Bogotá office, Manuel Quinche, said, “This result clearly reflects Sura Asset Management’s financial strength and the confidence it inspires in the international market, particularly in a challenging context for global capital markets. The company’s presence in Chile, Colombia, Mexico, Peru, Uruguay, the USA and Luxembourg, and its over 23 million clients, consolidate its position as a key driver in Latin America’s socioeconomic growth and development.” Quinche led the legal advisory team, in collaboration with Angie Gómez and Ana Katrín García from the Finance Practice.