Republic of Congo to Redeem Remaining 2032 Notes Following Successful Tender Offer
Republic of Congo to redeem remaining notes due 2032
Investing Australia
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The Republic of Congo will redeem all remaining 9.875% Amortising Notes due 2032 on June 12, 2026, after a successful tender offer that canceled $563.99 million of the notes. Only $11.67 million remains outstanding, allowing the Republic to exercise its clean-up call option.
- 01The Republic of Congo will redeem the remaining 9.875% Amortising Notes due 2032 on June 12, 2026.
- 02A tender offer completed on May 20, 2026, resulted in the cancellation of $563,990,000 of the notes.
- 03Only $11,668,000 of the notes remains outstanding, which is less than 25% of the total issued amount.
- 04The redemption will occur at 100% of the outstanding principal plus accrued interest up to the redemption date.
- 05The Republic plans to request the cancellation of the notes' listing on the London Stock Exchange after the redemption.
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The Republic of Congo has announced it will redeem all outstanding 9.875% Amortising Notes due 2032 on June 12, 2026, exercising its clean-up call option. This decision follows a successful tender offer on May 20, 2026, during which the Republic purchased and canceled $563,990,000 in aggregate principal amount of these notes. As a result, only $11,668,000 remains outstanding, which is under the 25% threshold necessary for the Republic to activate the clean-up call option as per Condition 7.2 of the notes' terms and conditions. The remaining notes, identified by ISIN XS3223166409 and Common Code 322316640, will be redeemed at 100% of the principal amount plus any accrued but unpaid interest up to the redemption date. Following the redemption, the Republic will also request the Financial Conduct Authority to cancel the listing of these notes on its Official List and seek to remove them from trading on the London Stock Exchange's main market.
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The redemption of these notes may positively impact the Republic's financial standing by reducing debt obligations.
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