Uruguay in $1.2 Billion Debt Offering and Concurrent Secondary Trade Tender Offer

October 27, 2015

Cleary Gottlieb represented República Oriental del Uruguay in its registered offering of $1.2 billion 4.375% Bonds due 2027, which was announced and priced on October 19 and closed on October 27, 2015. Citigroup, HSBC and Itau BBA acted as underwriters for the 2027 Bonds offering made under Uruguay’s shelf registration statement. The 2027 Bonds were issued on October 27, 2015.

Uruguay used a portion of the net proceeds of the 2027 Bonds to pay the purchase price for bonds tendered to HSBC, as billing and delivering bank under an intra-day secondary trade offer launched simultaneously with the announcement of the new money offering.