Skip to main content

Greenberg Traurig Represents Oppenheimer & Co. . in Consent Solicitation for The Republic of Suriname

NEW YORK – July 30, 2020 – Global law firm Greenberg Traurig, LLP represented Oppenheimer & Co. Inc. as solicitation agent in the successful consent solicitation conducted by The Republic of Suriname (the Republic) in order to reprofile its principal payment obligations under its 9.875% notes due in 2023 in light of the current economic and political situation affecting the country.

The consent allowed the Republic to amend certain terms of the notes in reliance on the “collective action clause” in the indenture – now common in most sovereign debt instruments – that permits amendments to essential terms with less than a unanimous vote of noteholders. The amendments were approved by noteholders holding 99.84% of the aggregate outstanding principal amount of the notes. The consent solicitation was conducted over a shortened time frame of five business days following a pre-launch wall crossing.

“We are proud of our Latin America and Global Capital Markets teams for bringing their knowledge, passion, and creativity to support this important transaction for our client and for The Republic of Suriname,” said Marc M. Rossell, a New York office shareholder in Greenberg Traurig’s Global Capital Markets Group and co-chair of the firm’s Latin America Practice.

The Greenberg Traurig team representing Oppenheimer & Co. Inc. was led by Rossell, with additional team members from the New York office, including Corporate Practice Of Counsel Godric C. Shoesmith and Tax Practice Shareholder Erez I. Tucner.

About Greenberg Traurig’s Latin America Practice: Greenberg Traurig’s award-winning Latin America Practice draws on resources from our offices around the world, bringing together a multidisciplinary team of lawyers to help clients identify business opportunities in Latin America. The team, which includes lawyers who have been chief legal officers at major multinational companies, has wide-ranging experience representing U.S. and international clients who do business in Latin America, as well as advising Latin American clients on their business ventures in the United States. The firm’s experience throughout the region enables the team to offer clients local knowledge and resources in the legal aspects of market opportunities, investments, financing, access to capital markets, governmental strategies, or international dispute resolution.

About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has 2200 lawyers in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. Web: Twitter: @GT_Law.