KINSHASA, Feb 18 – The Democratic Republic of Congo said it will buy back about $354.3 million in principal amount of its 9.875 percent amortising notes due in 2032, according to a notice published on the London Stock Exchange.
The government said that it will $947.50 for every $1,000 of principal amount tendered with the aggregate tender consideration amounting to about $346 million, excluding accrued interest.
The cash tender offer expired on Monday, February 16. Authorities initially set the cap at $350 million, then raised it to $390 million on February 12. The republic did not apply any proration factor because the total amount of notes tendered fell within the revised limit.
Payment for the repurchased notes is expected on or about February 23, 2026. The transaction remains conditional on the concurrent issuance of a new series of dollar denominated notes on terms acceptable to the government.
The 2032 notes carry a coupon of 9.875 percent and this buyback forms part of the country’s broader liability management operations.
Last week, the government announced both the tender offer and its intention to issue new dollar notes. The new issuance will support the refinancing of existing obligations under the 2032 securities.
The transaction reduces the outstanding principal amount of the 2032 notes and adjusts the republic’s external debt profile under the existing high interest instrument, according to the official statement.
