Uruguay in $2 Billion Bond Offering and Secondary Trade Repurchase

August 20, 2013

Cleary Gottlieb represented República Oriental del Uruguay in its offering of $2 billion principal amount of 4.500% Bonds due 2024 which was announced or priced on August 6 and closed on August 14, 2013. Deutsche Bank Securities and HSBC Securities (USA) acted as underwriters for the 2024 Bonds offering. The offering of 2024 Bonds was made under Uruguay’s shelf registration statement. The 2024 Bonds were issued on August 14, 2013 and were listed on the Luxembourg Stock Exchange on August 20, 2013.

Uruguay used approximately 50% of the net proceeds of the 2024 Bonds to pay the purchase price for bonds tendered to HSBC Securities (USA), as billing and delivering bank under an intra-day secondary trade offer launched simultaneously with the announcement of the new money offering.