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The Republic of Kenya - Tender Offer 2024 (XS/US) - Max Tender Amount

THE REPUBLIC OF KENYA ANNOUNCES MAXIMUM TENDER AMOUNT IN RESPECT OF THE TENDER OFFER FOR ITS U.S.$2,000,000,000 6.875 PER CENT. NOTES DUE 2024 - XS1028952403 - US491798AE43
 

13 FEBRUARY 2024


Full announcement including disclaimers and offer/distribution restrictions available via Euronext


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"Following the pricing of the Republic’s U.S.$1,500,000,000 9.750 per cent. Amortising Notes due 2031 on 12 February 2024, the Republic today announces that it will accept for purchase up to U.S.$1,400,000,000 in aggregate principal amount of Notes validly tendered pursuant to the Offer (the “Maximum Tender Amount”), provided that, subject to applicable law, the Republic expressly reserves the right, but is not obligated to, increase or decrease the Maximum Tender Amount in its sole and absolute discretion without extending the Expiration Deadline or otherwise providing withdrawal rights. The details of the Offer are accordingly set out below:


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THE REPUBLIC OF KENYA ANNOUNCES TENDER OFFER FOR ITS U.S.$2,000,000,000 6.875 PER CENT. NOTES DUE 2024 - XS1028952403 - US491798AE43
 

07 FEBRUARY 2024


Full announcement including disclaimers and offer/distribution restrictions available via Euronext



The Republic of Kenya (the “Issuer” or the “Republic”) today announces its invitation to eligible holders (subject to the offer restrictions referred to below) of its outstanding U.S.$2,000,000,000 6.875 per cent. Notes due 2024 (the “Notes”) to tender Notes for purchase by the Issuer for cash subject to the Maximum Tender Amount (as defined below) (the “Offer”).

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Rationale for the Offer


The Republic is making the Offer, in conjunction with the offering of the New Notes, as part of the proactive management of Kenya’s external indebtedness, specifically to smooth out the maturity profile of the Notes due in June 2024.


Source of Funds


The Republic expects to finance the purchase of Notes validly tendered and accepted for purchase pursuant to the Offer with the net proceeds of the issuance of the New Notes."


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