The Paris office of international law firm Clifford Chance has advised Deutsche Bank as sole lead manager and bookrunner on the tap issuance by the Gabonese Republic of its outstanding USD 500 million 6.95% bonds due 16 June 2025 for an amount of USD 200 million.

The proceeds of the issuance will be used to refinance the remainder of the Gabonese Republic's outstanding 8.20% bonds due December 2017. The transaction settled on 12 August 2017 and the bonds were offered and sold in reliance on Rule 144A and Regulation S and were admitted to trading on the Irish Stock Exchange.

This issuance follows the original issuance of USD 500 million 6.95% bonds due 16 June 2025, on which Clifford Chance also advised. This transaction is the third international bond issuance by the Gabonese Republic on which Clifford Chance has advised and further builds on Clifford Chance Paris's sovereign debt experience in Francophone Africa.

The Clifford Chance team was led by U.S. Securities partner Alex Bafi, with support from DCM partner Cédric Burford, and assistance by senior associate Andrew McCann, U.S associate Ryan Bosch and associate Lou Bernard.