Ivory Coast gives results of tender offer invitation for two notes

Chicago, Jan. 30 – The Republic of Cote d’Ivoire provided the results of its tender offer for two notes in an announcement on Tuesday.

The offer ended at 11 a.m. ET on Jan. 29.

The republic was offering to buy any and all of its €239,153,000 outstanding 5 1/8% notes due 2025 (ISINs: XS1631414932, XS1631415079) and up to $300 million aggregate principal amount of its $497,041,390 outstanding step-up bonds due 2032 (ISINs: XS0496488395, XS0496608984).

All €211,507,000 of the 5 1/8% notes tendered are being accepted for purchase.

The capped offer was oversubscribed. The republic is accepting tenders up to the cap, with $299,999,759.37 principal amount of notes accepted, applying a proration factor of 72.5443%.

The offer was to purchase the 2025 notes at €1,020 per €1,000 principal amount and the 2032 notes at $971.25 per $1,000 principal amount. The republic will also pay accrued interest.

The 2032 notes are subject to an amortization factor of 0.536945.

The offers were conditioned on new financing.

Settlement is expected for Feb. 5.

BNP Paribas (liability.management@bnpparibas.com; +33 1 55 77 78 94), Citigroup Global Markets Ltd. (liabilitymanagement.europe@citi.com; +44 20 7986 8969), Deutsche Bank AG, London Branch (+44 20 7545 8011), J.P. Morgan Securities plc (em_europe_lm@jpmorgan.com; +44 20 7134 2468), Societe Generale (liability.management@sgcib.com; +33 1 42 13 32 40) and Standard Chartered Bank (liability_management@sc.com; +44 20 7885 5739) are dealer managers for the offers.

Morrow Sodali Ltd. (CDI@investor.morrowsodali.com; +44 20 4513 6933, +852 2319 4126, 203 658-9457) is the information and tender agent.

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