Republic of the Philippines in $500 Million Debt Offering

February 5, 2008

Cleary Gottlieb represented Credit Suisse and Deutsche Bank as underwriters in a U.S.-registered offering by the Republic of the Philippines of $500 million 6.375% Global Bonds due 2032. The offering closed on February 5, and the bonds were listed on the Euro MTF, the alternative market of the Luxembourg Stock Exchange.

Cleary Gottlieb is the designated underwriters’ counsel for offerings by the Philippines.