Republic of the Philippines in $1.5 Billion Philippine Sovereign Debt Offering

Cleary Gottlieb represented Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan, Standard Chartered and UBS as underwriters in a U.S.-registered offering by the Republic of the Philippines of $1.5 billion of its 5.00% global bonds due 2037. The offering closed on January 13, 2012. The bonds were listed on the Official List of the Luxembourg Stock Exchange and admitted for trading on the Euro MTF Market.

Cleary Gottlieb is the designated underwriters’ counsel for offerings by the Philippines, one of Asia’s most frequent sovereign borrowers.