The Republic of the Congo has announced it will buy back approximately $354.3 million in principal amount of its outstanding 9.875 percent amortising notes due 2032, as part of a broader effort to actively manage its external debt profile. The disclosure was published via a notice on the London Stock Exchange and reported by Reuters.
Under the terms of the tender offer, the government will pay $947.50 for every $1,000 in principal, in addition to accrued interest. The total cash consideration is estimated at roughly $346 million. The offer, which expired on February 16, 2026, according to Investing.com was initially capped at $350 million but later increased to $390 million. The final amount tendered fell within the revised cap, eliminating the need for proration.
The buyback forms part of Congo’s broader debt management strategy aimed at reducing high interest liabilities and smoothing its repayment profile. Settlement for the repurchased notes is expected around February 23, 2026, MarketScreener noted.
Financial institutions including Citigroup Global Markets acted as dealer manager for the transaction, with Citibank’s London branch serving as tender agent, as stated in the official transaction notice.
