REG - Angola(Republic of) - Tender Offer Indicative Non-Binding Results

Deutsche Bank AGAnnouncement

07/04/2022 12:00

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RNS Number : 6511H  Angola (The Republic of)  07 April 2022

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL
 
7 April 2022

 

THE REPUBLIC OF ANGOLA ANNOUNCES THE NON-BINDING INDICATIVE 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
non-binding indicative 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.

Indicative Results of the 2025 Notes Offer

As at the Expiration Deadline, the Republic had received valid tenders of
U.S.$627,687,000 in aggregate principal amount of 2025 Notes for purchase
pursuant to the 2025 Notes Offer.

The Republic expects to announce whether it will accept any 2025 Notes validly
tendered for purchase as soon as practicable following the pricing of the New
Notes. In the event the Republic decides to accept 2025 Notes validly tendered
for purchase, subject to satisfaction or waiver of the New Financing
Condition, it currently intends to accept all such 2025 Notes for purchase
without proration. Noteholders should note that this is a non-binding
indication.

If the Republic decides to accept valid tenders of 2025 Notes pursuant to the
2025 Notes Offer, the total amount that will be paid to each Noteholder on the
Settlement Date for such 2025 Notes accepted for purchase will be an amount
(rounded to the nearest U.S.$0.01, with U.S.$0.005 rounded upwards) equal to
the sum of:

·    the 2025 Notes Purchase Price of U.S.$1,110.00 per U.S.$1,000 in
principal amount of the 2025 Notes accepted for purchase from such Noteholder
pursuant to the 2025 Offer; and

·    the Accrued Interest on such 2025 Notes.

The Republic expects to announce when the Settlement Date will occur in
respect of any 2025 Notes accepted for purchase (in the event any such 2025
Notes are accepted for purchase) following the pricing of the New Notes. All
2025 Notes that may be accepted for purchase will be cancelled and will not be
reissued or resold. Any 2025 Notes that were not tendered or are not accepted
for purchase pursuant to the 2025 Offer will remain outstanding.

Until the Republic announces the final aggregate principal amount of 2025
Notes accepted for purchase, no assurance can be given that any 2025 Notes
validly tendered for purchase pursuant to the 2025 Offer will be accepted.

Indicative Results of the 2028 Notes Offer

The Republic currently expects to 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. Noteholders should note that this is a
non-binding indication.

 

 

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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