Allen & Overy has advised ANZ as sole lead manager and bookrunner in relation to the Republic of Fiji’s USD200 million sovereign bond offering. The transaction comprised a simultaneous cash tender offer for Fiji’s outstanding bonds due 2016 and an offering of new bonds.

ANZ was mandated as dealer manager of the tender offer and lead manager of the new bond offering. Fiji’s most recent USD-denominated bond issue was in 2011, a transaction on which Allen & Overy also advised.

The Allen & Overy team was led by partner Amit Singh and associate Paul Porter in Hong Kong.

Commenting, Allen & Overy partner Amit Singh said: "This transaction, which involved a simultaneous cash tender offer, was amongst the first to implement collective action clauses and other bond terms reflecting those recently endorsed by the IMF, which we believe is an important step in balancing the interests of sovereign issuers and creditors in the international capital markets.”

Allen & Overy has established a strong track record of success in the sovereign bond space, most recently advising on sovereign issuances by Vietnam and Mongolia in Asia Pacific.