Global law firm White & Case LLP acted for the Joint Lead Managers on the Republic of Serbia’s US$1 billion international bond, its first issue since achieving independence five years ago. It was the first debut sovereign offering from the Central and Eastern European region in 2011.

“This was a successful transaction, completed in volatile markets,” said White & Case partner Francis Fitzherbert-Brockholes. “White & Case has a strong history of acting on ‘firsts’ in emerging markets. It’s an area of expertise for the Firm and one in which we take great pride.” 

Over the past 40 years White & Case has built an outstanding sovereign practice, especially in capital markets. This transaction represents the Firm’s eighth sovereign offering so far this year, tapping the international capital markets for over US$9 billion. The offerings include Nigeria’s debut international bond issue as well as SEC-registered offerings by Poland and follow-ons from Lithuania, Ukraine, Senegal, Belarus and the Slovak Republic. 

The White & Case deal team consisted of partners Francis Fitzherbert-Brockholes, Doron Loewinger and Ian Clark and associates John Munnis and Marette Kemp.