Republic of the Philippines in $750 Million Offering

Cleary Gottlieb represented Citi, Credit Suisse and Deutsche Bank Securities as joint lead managers and joint bookrunners in an SEC-registered offering by the Republic of the Philippines of $750 million 6.50% global bonds due 2020. The offering closed on July 20, 2009 and 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, which is one of Asia’s most frequent sovereign borrowers.