Cleary Gottlieb advised on The Asian Lawyer’s Securities Deal of the Year (Debt) at its 2021 Asia Legal Awards.
The firm was recognized for advising the government of Mongolia in its $600 million sovereign bond for sustainable development.
The deal marked an important shift for sovereign borrower documentation by incorporating a new model of collection action clauses (CACs) into the new bond indenture. The new CACs contain protections to defend against holdout creditors seeking to upset a mainly consensual debt restructuring.
To learn more about the awards, click here.