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The Republic of Congo announced on May 28, 2026, it will redeem all outstanding 9.875 per cent. Amortising Notes due 2032 on June 12, 2026, at 100% of the outstanding principal amount plus accrued interest, by exercising its clean-up call option. This follows a May 20, 2026 tender offer where $563,990,000 in aggregate principal of notes were purchased and cancelled, leaving $11,668,000 outstanding (less than 25% of the issued aggregate principal), and the Republic will request the notes' delisting after the redemption date.
| Date | 28 May 2026 |
| Time | 12:55:54 |
| Category | Corporate updates |
| ID | 1020G |
The Republic of Congo Announces the Exercise of its Clean-up Call Option in Relation to Certain of its Existing Notes
28 May 2026 - The Republic of Congo ("Congo" or the "Republic") announces today that in accordance with Condition 7.2 (Clean-up Call) of the terms and conditions its outstanding 9.875 per cent. Amortising Notes due 2032 (ISIN: XS3223166409; Common Code: 322316640) (the "Existing Notes"), it will redeem all of the outstanding Existing Notes on 12 June 2026 (the "Redemption Date").
As announced on 20 May 2026, the Republic has purchased and cancelled $563,990,000 in aggregate principal amount of Existing Notes pursuant to the terms set forth in a tender offer memorandum dated 12 May 2026 (the "Tender Offer"). Given that, following the Tender Offer, $11,668,000 in aggregate principal amount of Existing Notes remains outstanding (representing less than 25 per cent. of the Existing Notes' issued aggregate principal amount), the Republic may exercise its option to redeem the outstanding Existing Notes (in whole) pursuant to Condition 7.2 (Clean-up Call) of the terms and conditions of the Existing Notes.
Accordingly, the Republic hereby gives notice that it will exercise its option to redeem all of the outstanding Existing Notes on the Redemption Date at a redemption price equal to 100 per cent. of the outstanding principal amount of the Existing Notes, together with accrued but unpaid interest to, but excluding, the Redemption Date, in accordance with the terms and conditions of the Existing Notes.
The Republic will request the Financial Conduct Authority (the "FCA") to cancel the listing of the Existing Notes on the Official List of the FCA and the London Stock Exchange (the "Exchange") to cancel the admission to trading on the main market of the Exchange as soon as practicable after the Redemption Date.