Related Issuers
by Chris Reich
Jan 16, 2025 8:09 AM ET
The Republic of Benin (BENIN), exp BB-/B+ (p/s) by S&P and Fitch, US$ benchmark 144A/Reg S 16y amortizing sr notes due 1/23/41. 15y average life. Citi (B&D)/JPM/SG as Joint Bookrunners. UOP: general budgetary purposes in accordance with the Issuer's finance laws. Pricing 1/16. Settle 1/23.
IPTs: 9.25-9.375%.
GUIDANCE: 8.75-8.875%.
In conjunction, the Republic of Benin has also announced a EUR 250m capped tender offer of its outstanding 4.875% Euro denominated Bonds due 2032.
The Tender Offer is expected to be financed through a loan between the Republic of Benin and a commercial bank but is not conditional upon the extension of the loan or the successful closing of the New Notes Offering.