Commentary & Deal Flow

Republic of Congo announces results of tender, offers dollar benchmark eurobond

Johannesburg, May 20 - Republic of Congo on Wednesday announced the results of a tender offer to holders of its 2032 eurobond and offered a new dollar-denominated benchmark eurobond with an 8-year weighted average life.

The country said it was offering a "cash tender consideration" equal to $1,040.00 per $1,000 in principal amount of the existing 2032 bond and accrued interest. The principal amount to be accepted is $563,990,000.