Shearman & Sterling represented Grupo de Inversiones Suramericana S.A (“Gruposura”) in connection with the issuance by its wholly owned subsidiary Gruposura Finance of $300 million principal amount of 5.70% Notes due 2021 offered under Rule 144A/Regulation S, and unconditionally guaranteed by Gruposura. Gruposura is the principal shareholder in a group of companies which are market leaders in Colombia across diversified industries, including commercial banking (Bancolombia S.A.), insurance (Suramericana S.A.), pension fund administration (Protección S.A. ), processed foods (Grupo Nutresa S.A.), cement and ready mix production (Cementos Argos S.A.) and energy generation (Compañía Colombiana de Inversiones S.A.).

Merrill, Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC acted as the joint bookrunning managers for the offering. Gruposura intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions to enhance its strategic interests in the financial services sector.

The following Shearman & Sterling team advised Gruposura in the transaction: partners Antonia Stolper (New York-Capital Markets), Don Lonzcak (Washington, DC-Tax), and Paul Schreiber (New York-Investment Funds) and associates Grissel Mercado (New York-Capital Markets), Sheila Lavu (New York-Capital Markets), David Ni (New York-Capital Markets), Christian Urrutia (New York-Capital Markets), Daniel Nicholas (Washington, DC-Tax) and Steve Homan (New York-Investment Funds).