Cleary Gottlieb represented Républica Oriental del Uruguay in the offering of its €300 million 6.875% bonds due 2016. The bonds were issued under a Trust Indenture among the Republic, Banco Central del Uruguay, as financial agent of the Republic, and The Bank of New York, as trustee. The offering priced on July 19 and closed on July 26.
An application to list the bonds on the London Stock Exchange was made concurrent with the offering and was confirmed on August 4. This listing was one of the first by a sovereign to take place under the new European Prospectus Directive regime.