REG - Angola(Republic of) - Tender Offer Final Results Announcement

Deutsche Bank AGAnnouncement

08/04/2022 13:45

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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 Limited            Deutsche Bank AG, London Branch
 Citigroup Centre                            1 Great Winchester Street

 Canada Square                               London EC2N 2DB

 Canary Wharf                                United Kingdom

 London E14 5LB                              Attention: Liability Management Group

 United Kingdom                              Telephone: +44 20 7545 8011

 Email:

 liabilitymanagement.europe@citi.com

 Telephone: +44 20 7986 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

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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