Angola (The Republic of) Tender Offer Final Results Announcement (8322H)
April 08 2022 - 7:35AM
UK Regulatory
TIDM42RV
RNS Number : 8322H
Angola (The Republic of)
08 April 2022
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR
RESIDENT IN ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE
UNLAWFUL
8 April 2022
THE REPUBLIC OF ANGOLA ANNOUNCES THE RESULTS OF THE TENDER
OFFERS FOR ITS 9.500 PER CENT. NOTES DUE 2025 AND 8.250 PER CENT.
NOTES DUE 2028
The Republic of Angola (the "Republic" or the "Angola") today
announces the results of its invitations to eligible holders of its
outstanding (i) 9.500% Notes due 2025 (Reg. S ISIN: XS1318576086;
Reg. S Common Code: 131857608; Rule 144A ISIN: US035198AA89; Rule
144A CUSIP: 035198AA8; Rule 144A Common Code 131979665) (the "2025
Notes") and (ii) 8.250% Notes due 2028 (Reg. S ISIN: XS1819680288;
Reg. S Common Code: 181968028; Rule 144A ISIN: US035198AB62; Rule
144A CUSIP: 035198AB6; Rule 144A Common Code: 181968087) (the "2028
Notes", and together with the 2025 Notes, the "Notes") to purchase
for cash up to U.S.$750,000,000 in aggregate principal amount (the
"Maximum Tender Amount") of the 2025 Notes and the 2028 Notes
(together, the "Offers" and each, an " Offer").
The Offers were announced on 31 March 2022 and were made on the
terms and subject to the conditions set out in the Tender Offer
Memorandum dated 31 March 2022 (the "Tender Offer Memorandum")
prepared by the Republic. Capitalised terms used but not otherwise
defined in this announcement shall have the meanings given to them
in the Tender Offer Memorandum.
The Expiration Deadline for the Offers was 5.00 p.m. (New York
City time) on 6 April 2022.
As at the Expiration Deadline, the Republic had received valid
tenders of U.S.$635,587,000 in aggregate principal amount of 2025
Notes for purchase pursuant to the 2025 Notes Offer.
On 7 April 2022, the Republic successfully priced one series of
New Notes in an aggregate principal amount of U.S.$1,750,000,000
meaning that the New Financing Condition is expected to be
satisfied on the closing date in respect of the issue of New Notes
of 14 April 2022, subject to the satisfaction of customary
conditions precedent.
Accordingly, subject to the satisfaction or waiver of the New
Financing Condition, the Republic will accept U.S.$635,587,000 in
aggregate principal amount of 2025 Notes without proration for
purchase.
The 2025 Notes Tender Consideration is U.S.$1,110.00 per
U.S.$1,000 in principal amount of such 2025 Notes plus the Accrued
Interest on such 2025 Notes.
The Republic will exercise its discretion set out in the Tender
Offer Memorandum not to accept for purchase any 2028 Notes tendered
pursuant to the 2028 Notes Offer.
The Settlement Date in respect of the 2025 Notes accepted for
purchase (subject to the satisfaction or waiver of the New
Financing Condition) will be on 14 April 2022. All Notes accepted
for purchase will be cancelled and will not be reissued or resold.
Any Notes that were not tendered or are not accepted for purchase
pursuant to the Offers will remain outstanding.
Citigroup Global Markets Limited and Deutsche Bank AG, London
Branch are acting as Dealer Managers and Citibank N.A., London
Branch is acting as Tender Agent in respect of the Offers.
DEALER MANAGERS
Citigroup Global Markets Deutsche Bank AG, London
Limited Branch
Citigroup Centre 1 Great Winchester
Canada Square Street
Canary Wharf London EC2N 2DB
London E14 5LB United Kingdom
United Kingdom Attention: Liability
Email: Management Group
liabilitymanagement.europe@citi.com Telephone: +44 20 7545
Telephone: +44 20 7986 8011
8969
TENDER AGENT
Citibank, N.A.,
London Branch
Citigroup Centre
Canada Square
London E14 5LB
United Kingdom
Attention: Exchange Team - Agency and Trust: citiexchanges@citi.com
Telephone: +44 20 7508 3867
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. This announcement and the Tender Offer
Memorandum contain important information which should be read
carefully. If you are in any doubt as to the contents of this
announcement or the Tender Offer Memorandum, you are recommended to
seek your own financial and legal advice, including as to any tax
consequences, immediately from your stockbroker, bank manager,
solicitor, accountant or other independent financial or legal
adviser. This announcement is for informational purposes only.
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END
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