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| Date | 8 Apr 2022 |
| Time | 12:35:04 |
| Category | Results |
| ID | 8322H |
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.
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DEALER MANAGERS
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TENDER AGENT
Citibank, N.A., London Branch Citigroup Centre Canada Square London E14 5LB United Kingdom Attention: Exchange Team - Agency and Trust: [email protected] Telephone: +44 20 7508 3867 |
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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.