Republic of Senegal in $500 Million Sovereign Bond Offering

July 30, 2014

Cleary Gottlieb acted as counsel to the Republic of Senegal in relation to its sovereign bond offering of $500 million 6.250% Notes due 2024, which closed on July 30. Proceeds will be used to repay an outstanding syndicated loan and to fund public investment projects.

This transaction is the Republic’s third international offering and its lowest coupon ever achieved in the primary capital markets.

The offering was made on a Rule 144A / Regulation S basis and the Notes were admitted to trading on the Main Securities Market of the Irish Stock Exchange.