Russia in $5.5 Billion Debt Offering

April 29, 2010

Cleary Gottlieb represented the Russian Federation in its 144A/Regulation S offering of $2 billion 3.625% bonds due 2015 and $3.5 billion 5% bonds due 2020. The bonds are listed on the Official List of the U.K. Listing Authority and are admitted for trading on the London Stock Exchange’s Regulated Market. The deal closed on April 29.

The offering marked Russia’s return to the international capital markets for the first time since the emerging market crisis of 1998 and aims to create a new benchmark for Russian sovereign and corporate debt.