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Republic of Suriname - Exchange and Consent Solicitation - Results

Republic of Suriname Announces Successful Results of Invitation - US86886PAB85 and USP68788AB70 - US86886PAA03 and USP68788AA97

06 NOVEMBER 2023


Full announcement including disclaimers and offer restrictions available via Luxse


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"Results of the Invitation


The Republic announces today that it has obtained the instructions and consents required to exchange and/or modify 100% of the aggregate principal amount outstanding of each series of Eligible Bonds pursuant to the terms of its Invitation.


As of the Expiration, the percentage of the outstanding principal amount of the Eligible Bonds for which the Republic has received and accepted instructions is as follows:

As of the Expiration, holders of 92.48% of the aggregate principal amount Outstanding of 2023 Bonds and holders of 97.29% of the aggregate principal amount Outstanding of the 2026 Bonds have accepted the Republic's Invitation to exchange their Eligible Bonds for New Bonds and Oil-linked Securities (together the “New Securities”) to be issued by the Republic, and have given their consent to the actions proposed in the Invitation, including to authorize and direct the Trustee under each series of Eligible Bonds to modify any Eligible Bonds of the relevant series that would remain outstanding after giving effect to the exchange offers by exchanging them for the relevant amounts of New Securities described in the Invitation (the “Proposed Modifications”). The effectiveness of the Proposed Modifications with respect to each series of Eligible Bonds was conditioned on the Republic receiving and accepting valid consents from Holders of not less than 75% of the aggregate principal amount of each series of Eligible Bonds then Outstanding (the “Requisite Consents”).


The Republic has received the Requisite Consents in respect of each series of Eligible Bonds required to render the Proposed Modifications effective for each series of Eligible Bonds, and any Eligible Bonds that remain outstanding after giving effect to the exchange offers will be mandatorily exchanged for the amount of New Securities as set forth in the Invitation."


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Republic of Suriname Announces Exchange Offer and Consent Solicitation in relation to Eligible Bonds - US86886PAB85 and USP68788AB70 - US86886PAA03 and USP68788AA97

24 OCTOBER 2023


Full announcement including disclaimers and offer restrictions available via Luxse


"PARAMARIBO, Suriname, October 23, 2023-- The Republic of Suriname (the “Republic”) announced today that it invites Eligible Holders (as defined below) of its 9.875% Notes due 2023 (CUSIP Numbers 86886P AB8 and P68788 AB7; ISIN Numbers US86886PAB85 and USP68788AB70) (the “2023 Bonds”) and 9.25% Notes due 2026 (CUSIP Numbers 86886P AA0 and P68788 AA9; ISIN Numbers US86886PAA03 and USP68788AA97) (the “2026 Bonds”, and together with the 2023 Bonds, the “Eligible Bonds”) to exchange such Eligible Bonds for New Securities (as defined below) and to simultaneously consent to certain amendments to the Eligible Bonds (the “Invitation”), on the terms and subject to the conditions set forth in the invitation memorandum.


Background


On May 3, 2023, the Republic announced it reached an agreement-in-principle on the restructuring terms of the Eligible Bonds with the members of the representative bondholder committee (the “bondholder committee”), consistent with the parameters of the IMF Program for Suriname that was approved by the IMF Executive Board on December 22, 2021.


The terms of the agreement-in-principle with the bondholder committee are incorporated in, and are to be implemented pursuant to, the Invitation."


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