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The Republic of Kenya fully settled its tender offer for its outstanding U.S.$900,000,000 7.000 per cent. Notes due 2027 on 11 March 2025, with a value date of the same day. This follows the Republic's acceptance of all validly tendered Notes on 4 March 2025, for an offer initially announced on 24 February 2025.
| Date | 11 Mar 2025 |
| Time | 18:01:10 |
| Category | Miscellaneous |
| ID | 2657A |
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. Earlier today, the Republic announced that technical delays would result in the funds being distributed on or about 12 March 2025. However, these issues have now been resolved, and the Republic has fully settled the Offer today, 11 March 2025, with a value date of today.
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
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Citigroup Global Markets Limited Citigroup Centre Canada Square Canary Wharf London E14 5LB United Kingdom
Attention: Liability Management Group In Europe: +44 20 7986 8969
In the United States: Toll Free: +1 800 558 3745 Collect: +1 212 723 6106 Email: [email protected]
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The Standard Bank of South Africa Limited Rosebank Johannesburg 2196 South Africa
Attention: Liability Management Group Telephone: +44 (0) 203 167 5210 Email: [email protected]
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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: [email protected]
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.