White & Case Advises Lithuania on US$1.5 Billion Sovereign Bond Offering
Latest Offering is Lithuania’s Largest Ever Debt Issuance

London, October 23, 2009 ... Global law firm White & Case LLP acted as U.S. and English counsel to the Republic of Lithuania on its issue of US$1.5 billion 6.75% Notes due 2015. The proceeds of the issue will be used for the country’s general budgetary purposes. HSBC and RBS were Joint Lead Managers.

The offering, which is Lithuania’s largest-ever debt issuance and its first U.S. dollar-denominated bond offering since 1997, follows offerings by several other EU Member States from Central and Eastern Europe that have accessed the international capital markets in 2009. White & Case also advised on offerings by Poland, the Czech Republic and the Slovak Republic earlier this year.

"We are very pleased to have represented Lithuania on this successful offering, which was met with strong investor demand,” commented Carter Brod, partner, White & Case. “After several years of robust growth, Lithuania and the other Baltic states have been hit particularly hard by the global economic crisis. This important transaction is one of a number of measures Lithuania has taken to stabilise its public finances and build the foundations for economic recovery."

The White & Case team was led by partner Carter Brod, assisted by associate Jason Emala. Lithuanian law advice to the Republic of Lithuania was provided by Lideika, Petrauskas, Valiunas ir partneriai LAWIN. Linklaters and Nordia Baublys & Partners acted for the Joint Lead Managers.

White & Case has a long track record of advising on sovereign bond offerings, having been one of the leading sovereign advisory firms for almost 40 years and having represented over 55 sovereign governments worldwide. The Firm has helped to complete more than 100 privatisation transactions and reschedule more than 20 nations’ foreign debts.

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