Cleary Gottlieb represented the Republic of Uruguay in a registered offering of $400 million 4.375 percent bonds due 2027 and $747 million 5.100 percent bonds due 2050.
Joint bookrunners for the transaction were Barclays Capital, BNP Paribas Securities and J.P. Morgan Securities.
The transaction consisted of a further issue of Uruguay’s $1.7 billion outstanding 4.375 percent bonds due 2027, initially issued on October 27, 2016, and $3.2 billion outstanding 5.100 percent bonds due 2050, initially issued on June 18, 2014, and February 26, 2015. The offering priced on July 13, 2016, and closed on July 20, 2016.