Freshfields Bruckhaus Deringer has advised Citigroup, HSBC and J.P. Morgan in relation to the issue by the Republic of Bulgaria of EUR 1,493 million 2.95% Notes due 2024.

The Republic of Bulgaria made another impressive foray into the public international debt capital markets following a successful return in July 2012.

The Freshfields team advising on the deal was led by Freshfields debt capital markets partner Duncan Kellaway and senior associate Nick Hayday.

Commenting on the transaction, Duncan Kellaway said ‘We were very pleased to support the Republic and the underwriters on a further important transaction by the Republic.’

The transaction follows the firm advising on the recent bond issues undertaken by the Republic of Lithuania and the Republic of Armenia.