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Clifford Chance advises Deutsche Bank, J.P. Morgan and Standard Chartered Bank on the $500 million offering of 6.950% notes due 2025 by the Gabonese Republic

22 June 2015

Clifford Chance advises Deutsche Bank, J.P. Morgan and Standard Chartered Bank on the $500 million offering of 6.950% notes due 2025 by the Gabonese Republic

Clifford Chance has advised Deutsche Bank, J.P. Morgan and Standard Chartered Bank in connection with the $500 million offering of 6.950% notes due 2025 by the Gabonese Republic. It represents the second African sovereign Eurobond issuance of 2015, following the Ivory Coast's offer in January 2015.

This transaction is intended to enable the Gabonese Republic to finance various infrastructure projects and improvements, principally in the transport sector (such as urban and rural roads, bridges and inter-city road connections) but also, to a lesser extent, in the education sector and in water and sanitation facilities.

The Clifford Chance Paris-based team consisted of Alex Bafi, US securities partner, assisted by Andrew McCann, senior associate and Sohan Manek, associate, and the London-based team consisted of David Dunnigan and Deborah Zandstra, partners, assisted by Naheeda Noormohamed, senior associate.

This transaction is one of a number of transactions on which our Paris-based US securities team, working closely with our global debt and equity capital markets team, has acted on, including more than $11 billion in securities offerings since January 2015:

  • Credit Suisse on Eurocastle Investments' €300 million equity offering and Euronext Amsterdam listing;
  • OCP S.A. on its US$1 billion offering of 4.50% Notes due 2025, underwritten by Barclays and Morgan Stanley;
  • Group Bolloré on its €600 million sale of Havas shares, (BNP Paribas, CM-CIC, Crédit Agricole Corporate and Investment Bank, Mediobanca, Natixis and Société Générale);
  • Caisse d'Amortissement de la Dette Sociale in connection with its €65 billion Global Medium Term Note Programme, its US$3.5 billion offering of 1.875% Notes due 2022, underwritten by Barclays Bank, BNP Paribas, Morgan Stanley and RBS, and its US$5 billion offering of 1.250 % Notes due 2018, underwritten by Citigroup, Deutsche Bank, J.P. Morgan  and Société Générale;
  • Citi, Bank of America Merrill Lynch and Société Générale on the €450 million IPO and listing on the Madrid Stock Exchange of Saeta Yield; and
  • Nicox S.A. on its private placement of shares.