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Rep of Macedonia (IRSH)

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Thursday 11 January, 2018

Rep of Macedonia

Tender Offer - Results

RNS Number : 6323B
Republic of Macedonia
11 January 2018
 

NOT FOR DISTRIBUTION IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

The Republic of Macedonia announces results of its Tender Offer for its €270,000,000 4.875 per cent. Notes due December 2020

11 January 2018. The Republic of Macedonia (the "Offeror") announces today the results of its invitation to holders of its outstanding €270,000,000 4.875 per cent. Notes due December 2020 (Regulation S ISIN/Common Code: XS1318363766/131836376 Rule 144A ISIN/Common Code: XS1318364228/131836422) (the "Notes") to tender their Notes for purchase by the Offeror for cash (such invitation, the "Offer").

The Offer was announced on 4 January 2018 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 4 January 2018 (the "Tender Offer Memorandum") prepared by the Offeror in connection with the Offer. Capitalised terms used in this announcement but not defined have the meaning given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer was 5.00 p.m. (CET) on 10 January 2018. As at the Expiration Deadline, the Offeror had received valid tenders of €91,670,000 in aggregate nominal amount of the Notes for purchase pursuant to the Offer.

The Offeror announces today that it has decided to accept all Notes validly tendered pursuant to the Offer and, accordingly, subject to the satisfaction (or waiver) of the New Financing Condition on or prior to the Offer Settlement Date, it will accept for purchase €91,670,000 in aggregate nominal amount of the Notes pursuant to the Offer.

Subject to satisfaction (or waiver) of the New Financing Condition on or prior to the Tender Offer Settlement Date, the Purchase Price the Offeror will pay for those Notes accepted for purchase pursuant to the Offer is €1,106.25 per €1,000 in principal amount of Notes. The Offeror will also pay the Accrued Interest Payment in respect of such Notes. --

A summary of the final results of the Offer appears below:

Description of the Notes

ISIN / Common Code

Aggregate nominal amount of Notes accepted for purchase pursuant to the Offer

Purchase Price

€270,000,000 4.875 per cent. Notes due December 2020

Reg S: XS1318363766/ 131836376

Rule 144A: XS1318364228/131836422

€91,670,000

€1,106.25 per €1,000 in principal amount of Notes

 

The Tender Offer Settlement Date is expected to be 18 January 2018. Following settlement of the Offer, €178,330,000 in aggregate nominal amount of the Notes will remain outstanding.

Citigroup Global Markets Limited (Telephone: +44 20 7986 8969), Deutsche Bank AG, London Branch (Telephone: +44 20 7545 8011) and Erste Group Bank AG (Telephone: +43 50100 87492, +43 50100 87462) are acting as Dealer Managers for the Offer.

Citibank, N.A., London Branch (Telephone: +44 20 7508 3867; Attention: Exchange Team; Email: [email protected]) is acting as Tender Agent for the Offer.

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

 

 

This announcement has been issued through the Companies Announcement Service of

 

The Irish Stock Exchange


This information is provided by RNS
The company news service from the London Stock Exchange
 
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