Tender Offer

Kenya (The Republic of)

15 October 2025

 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" IN THE TENDER OFFER MEMORANDUM DATED 2 OCTOBER 2025 PREPARED BY THE REPUBLIC OF KENYA)

15 October 2025

THE REPUBLIC OF KENYA

UPDATE ON THE SETTLEMENT OF THE TENDER OFFER FOR ITS U.S.$1,000,000,000 7.250 per cent. Notes due 2028

Notice is hereby given to holders that participated in the Republic of Kenya's (the "Republic") invitation to eligible holders of its outstanding U.S.$1,000,000,000 7.250 per cent. Notes due 2028 (Reg S ISIN: XS1781710543; Reg S Common Code:178171054; 144A ISIN: US491798AG90; CUSIP: 491798 AG9) (the "Notes") to tender Notes for purchase by the Republic (the "Offer").

The Offer was announced on 2 October 2025 and was made on the terms and subject to the conditions set out in the Tender Offer Memorandum dated 2 October 2025 (the "Tender Offer Memorandum") prepared by the Republic. Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Tender Offer Memorandum.

On 10 October 2025, the Republic announced that it had accepted for purchase all Notes validly tendered pursuant to the Offer. The Settlement Date for the Offer was 14 October 2025.

Prior to the Settlement Date, the Republic instructed payment of the Purchase Price and the Accrued Interest Payment in accordance with the terms of the Tender Offer Memorandum. Due to unforeseen technical delays among correspondent intermediaries arising from public holidays in the United States and the Republic of Kenya, the Republic regretfully understands that holders who participated in the Offer have not yet received their payments. The funds to fully settle the Offer will be distributed on 15 October 2025.

Citigroup Global Markets Limited and The Standard Bank of South Africa Limited are acting as Dealer Managers and Citibank N.A., London Branch is acting as Tender Agent.

Dealer Managers

Citigroup Global Markets Limited Citigroup Centre Canada Square Canary Wharf London E14 5LB United Kingdom Attention: Liability Management Group In Europe: [phone] In the United States: Toll Free: [phone] Collect: [phone] Email: [e-mail]

The Standard Bank of South Africa Limited 30 Baker Street Rosebank Johannesburg 2196 South Africa Attention: Liability Management Group Telephone: [phone] Email: [e-mail]

Tender Agent

Citibank, N.A., London Branch

Citigroup Centre

Canada Square

Canary Wharf

London E14 5LB

United Kingdom

Attention: Exchange Team

Telephone: [phone]

Email: [e-mail]

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully. If you are in any doubt as to the contents of this announcement or the Tender Offer Memorandum, you are recommended to seek your own financial and legal advice, including as to any tax consequences, immediately from your stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. This announcement is for informational purposes only.

 

END