REG - Kenya (Republic of) - Update on the settlement of the Tender Offer

CitigroupAnnouncement

11/03/2025 15:15

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RNS Number : 2383A  Kenya (The Republic of)  11 March 2025

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY
JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL (SEE "OFFER AND
DISTRIBUTION RESTRICTIONS" IN THE TENDER OFFER MEMORANDUM DATED 24 FEBRUARY
2025 PREPARED BY THE REPUBLIC OF KENYA)

11 March 2025

THE REPUBLIC OF KENYA

UPDATE ON THE SETTLEMENT OF THE TENDER OFFER FOR ITS U.S.$900,000,000 7.000
per cent. Notes due 2027

Notice is hereby given to holders that participated in the Republic of Kenya's
(the "Republic") invitation to eligible holders of its outstanding
U.S.$900,000,000 7.000 per cent. Notes due 2027 (Reg S ISIN: XS1843435840; Reg
S Common Code: 184343584; 144A ISIN: US491798AJ30; CUSIP: 491798 AJ3) (the
"Notes") to tender Notes for purchase by the Republic (the "Offer").

The Offer was announced on 24 February 2025 and was made on the terms and
subject to the conditions set out in the Tender Offer Memorandum dated 24
February 2025 (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.

On 4 March 2025, the Republic announced that it had accepted for purchase all
Notes validly tendered pursuant to the Offer. The Settlement Date for the
Offer was 10 March 2025.

On 10 March 2025, the Republic instructed payment of the Purchase Price and
the Accrued Interest Payment in accordance with the terms of the Tender Offer
Memorandum. As a result of unforeseen technical delays among banking
intermediaries, the Republic regretfully understands that holders that
participated in the Offer have not yet received their payment. The Republic is
aware of these issues and is seeking to resolve them on an expedited basis.
The Republic expects that the funds paid to fully settle the Offer should be
distributed on or about 12 March 2025.

Citigroup Global Markets Limited and The Standard Bank of South Africa Limited
are acting as Dealer Managers and Citibank N.A., London Branch is acting as
Tender Agent.

Dealer Managers

 Citigroup Global Markets Limited             The Standard Bank of South Africa Limited

                                            30 Baker Street
 Citigroup Centre

                                            Rosebank
 Canada Square

                                            Johannesburg 2196
 Canary Wharf

                                            South Africa
 London E14 5LB

 United Kingdom

                                            Attention: Liability Management Group

                                            Telephone: +44 (0) 203 167 5210
 Attention: Liability Management Group

                                            Email: liabilitymanagement@standardsbg.com
 In Europe: +44 20 7986 8969

 In the United States:

 Toll Free: +1 800 558 3745

 Collect: +1 212 723 6106

 Email: liabilitymanagement.europe@citi.com

Tender Agent

Citibank, N.A., London Branch

Citigroup Centre

Canada Square

Canary Wharf

London E14 5LB

United Kingdom

 

Attention: Exchange Team

Telephone: +44 (0)20 7508 3867

Email: citiexchanges@citi.com

 

 

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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