Benin tenders for €500 million 5¾% amortizing notes due 2026

By Rebecca Melvin

New York, Jan. 5 – The Republic of Benin has commenced a cash tender offer to purchase any and all of its €500 million of 5¾% amortizing notes due 2026 (B2/B+/B), according to a company announcement.

The offer is being made subject to pricing a new note for which allocations to investors take into account whether they are tendering old notes.

The tender purchase price is €1,082.50 per note.

The offer will expire at 11 a.m. ET on Jan. 11, and settlement is expected to occur on Jan. 19.

Citigroup Global Markets Ltd. (liabilitymanagement.europe@citi.com or +44 20 7986 8969) and Societe Generale (liability.management@sgcib.com or +33 1 42 13 32 40) are dealer managers for the offer.

Citibank, NA, London Branch NA (citiexchanges@citi.com or +44 20 7508 3867) is the tender agent.

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