Serbia launches cash tender offer for 4 7/8% notes due 2020

By Marisa Wong

Los Angeles, Oct. 28 – The Republic of Serbia is inviting holders of its $1.5 billion 4 7/8% notes due 2020 to tender any and all of their notes for purchase for cash, according to a notice.

There is $800 million of the notes outstanding.

The republic is offering $1,011.25 per $1,000 principal amount of notes tendered for purchase.

The offer expires at 5 p.m. ET on Nov. 4. Settlement is slated for Nov. 13.

The republic said it is conducting the tender offer to manage upcoming redemptions of the notes and its overall debt maturity profile.

The tender offer is subject to a financing condition. The republic intends to finance the tender with proceeds from an offering of new notes.

Holders who tender notes under the tender offer will be given preferential allocation of the new notes.

BNP Paribas (+44 20 7595 8668, liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (+44 20 7986 8969, 800 558-3745, 212 723-6106, liabilitymanagement.europe@citi.com), Deutsche Bank AG, London Branch (+44 20 7545 8011) and J.P. Morgan Securities plc (+44 20 7134 2468, em_europe_lm@jpmorgan.com) are the dealer managers.

Lucid Issuer Services Ltd. (+44 20 7704 0880, serbia@lucid-is.com, attn.: Arlind Bytyqi) is the tender and information agent.

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