Latest news with #GlobalDepositaryNotes
Bloomberg
4 days ago
- Business
- Bloomberg
BNY Mellon, Standard Bank to Offer Access to Nigerian Naira Debt
Bank of New York Mellon Corp. will sell global depositary notes backed by local-currency Nigerian sovereign debt, offering investors access to the high yields offered by Africa's most populous economy. The notes sold along with Standard Bank Group Ltd. will be eligible for settlement through Euroclear and Clearstream, the oldest US bank said in a statement on Wednesday. Nigeria on June 4 sold 182-day bills to yield 18.5% and its benchmark bond due 2033 was quoted on Wednesday at a yield of 19.33%.
Yahoo
12-06-2025
- Business
- Yahoo
Republic of Peru Announces Results of Exchange and Tender Offers
LIMA, Peru, June 12, 2025 /PRNewswire/ -- The Republic of Peru ("Peru"), in accordance with its previously-announced offers to (i) exchange certain of Peru's outstanding sovereign bonds or bonos soberanos (the "Existing Bonos Soberanos"), including bonos soberanos in the form of Global Depositary Notes (each, a "GDN") previously issued by Citibank, N.A., as depositary (the "Existing GDNs" and, together with the Existing Bonos Soberanos, the "Existing Bonds") for a new series of Sol-denominated sovereign bonds or bonos soberanos due 2035 (the "New Bonos Soberanos") (including new GDNs (the "New GDNs" and, together with the New Bonos Soberanos, the "New Bonds")) (collectively, the "Exchange Offers" and each, an "Exchange Offer") and/or (ii) purchase for cash the Existing Bonds (collectively, the "Cash Tender Offers," and each, a "Cash Tender Offer"), in each case, as set forth in the table below, today announced that the Exchange Offers and Cash Tender Offers expired as scheduled at 5:00 p.m. New York City time, on June 11, 2025. The Exchange Offers and Cash Tender Offers are referred to collectively herein as the "Offers." The Offers are being conducted upon terms and subject to certain conditions set forth in the Exchange and Tender Offering Memorandum dated June 5, 2025 and the press release issued on June 5, 2025. Capitalized terms used but not defined in this press release have the meanings specified in the Exchange and Tender Offering Memorandum. Existing BondsAggregate Principal Amount Tendered and Accepted in the Exchange OffersAggregate Principal Amount Tendered and Accepted in the Cash Tender Offers 8.200 % Bonos Soberanos due 2026.............................. S/113,495,000S/214,448,000 8.200% GDNs due 2026(1)............................................. S/70,000S/9,682,000 6.350% Bonos Soberanos due 2028...............................S/2,299,075,000S/720,571,000 6.350% GDNs due 2028(1)............................................. S/148,895,000S/5,303,000 5.940% Bonos Soberanos due 2029............................... S/3,755,635,000S/1,415,738,000 5.940% GDNs due 2029(1)............................................. -- 6.950% Bonos Soberanos due 2031............................... S/2,980,529,000S/413,464,000 6.950% GDNs due 2031(1)............................................. S/101,616,000S/1,547,711,000 (1)Each GDN represents one Bono Soberano of S/1,000 in principal amount The Exchange Consideration and Purchase Price in the Offers were set forth in a previous press release. Pursuant to the terms of the Offers, the currency exchange rate used to convert the applicable Soles amounts to U.S. dollars was set at S/3.636 per 1.00 U.S. Dollar with respect to the Purchase Price, Accrued Interest and Cash Rounding Amount, as applicable, for the Existing Bonds in the form of GDN. The Settlement Date for the Offers is expected to be June 17, 2025. The table above sets forth, for each series of Existing Bonds, the aggregate principal amount tendered and accepted in the Exchange Offers and the aggregate principal amounts tendered and accepted in the Cash Tender Offers. Peru has accepted all Existing Bonds validly tendered in the Offers. Peru is making the Offers only in those jurisdictions where it is legal to do so. The Offers are void in all jurisdictions where such Offers are prohibited. If materials relating to the Offers come into your possession, you are required by Peru to inform yourself of and to observe all of these restrictions. The New Bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws. Accordingly, the Offers will only be directed, and copies of the offering documents will only be made available, to a holder of the Existing Bonds who has certified its status as (1) a "qualified institutional buyer" in reliance on Rule 144A under the Securities Act or (2) a non-U.S person in offshore transactions in reliance on Regulation S under the Securities Act. Terms used in this paragraph have the meanings given to them by Rule 144A and Regulation S under the Securities Act. The materials relating to the Offers do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. FURTHER INFORMATION The Tender, Exchange and Information Agent for the Offers is: Global Bondholder Services Corporation65 Broadway – Suite 404New York, NY 10006United States of AmericaAttention: Corporate ActionsBanks and Brokers call: (212) 430-3774Toll free: (855) 654-2015Email: contact@ The Peruvian Market Maker for the Offers is: Banco Santander Perú Rivera Navarrete 475 Piso 14,San Isidro, Lima, PerúEmail: santransaccionperu@ The Issuer for the Offers is: Ministerio de Economía y Finanzas del PerúJr. Junín No. 319Lima, PerúEmail: subastas@ DISCLAIMERThe Exchange and Tender Offering Memorandum is not for release, publication or distribution to any person located or resident in any jurisdiction where it is unlawful to distribute the Exchange and Tender Offering Memorandum. Persons into whose possession any Exchange and Tender Offering Memorandum comes are required by Peru, the Dealer Managers and the Tender, Exchange and Information Agent to inform themselves about, and to observe, any such restrictions. This announcement is neither an offer to purchase nor the solicitation of an offer to sell any of the securities described herein, nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Offers were made solely pursuant to the Exchange and Tender Offering Memorandum dated June 5, 2025. This announcement is for distribution only to persons who (i) have professional experience in matters relating to investments falling within the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order, (iii) are persons falling within Article 43 of the Order, (iv) are outside the United Kingdom, or (v) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons. This announcement contains forward-looking statements and information that is necessarily subject to risks, uncertainties and assumptions. The offers are subject to conditions precedent and no assurance can be given that the transactions described herein will be consummated on the dates or the terms described herein. Peru assumes no obligation to update or correct the information contained in this announcement. View original content: SOURCE The Republic of Peru
Yahoo
06-06-2025
- Business
- Yahoo
Republic of Peru Announces Exchange Consideration
LIMA, Peru, June 5, 2025 /PRNewswire/ -- The Republic of Peru ("Peru") announced earlier today the commencement of offers to (i) exchange certain of Peru's outstanding sovereign bonds or bonos soberanos (the "Existing Bonos Soberanos"), including bonos soberanos in the form of Global Depositary Notes (each, a "GDN") previously issued by Citibank, N.A., as depositary (the "Existing GDNs" and, together with the Existing Bonos Soberanos, the "Existing Bonds") for a new series of Sol-Denominated sovereign bonds or bonos soberanos due 2035 (the "New Bonos Soberanos") (including new GDNs (the "New GDNs" and, together with the New Bonos Soberanos, the "New Bonds")) (collectively, the "Exchange Offers" and each, an "Exchange Offer") and/or (ii) purchase for cash the Existing Bonds (collectively, the "Cash Tender Offers" and each, a "Cash Tender Offer"). The Exchange Offers and Cash Tender Offers are referred to collectively herein as the "Offers." The Offers are being conducted upon terms and subject to certain conditions set forth in the Exchange and Tender Offering Memorandum dated June 5, 2025. Peru has now priced the New Bonds being concurrently offered for cash, and accordingly, pursuant to the Exchange and Tender Offering Memorandum, Peru hereby announces the exchange consideration (the "Exchange Consideration") and coupon for the New Bonds in the Exchange Offers. The Exchange Consideration offered for each S/1,000 principal amount of Existing Bonds in the Exchange Offers is provided in the table below, along with the previously announced price payable per S/1,000 principal amount for each series of Existing Bonds in the Cash Tender Offers (the "Purchase Price"). The coupon for the New Bonds is 6.850%. Existing Bonds Purchase Price(1)(2) Exchange Consideration(1)(2) 8.200 % Bonos Soberanos due 2026 S/1,047.992 S/1,050.98520586631 8.200% GDNs due 2026 S/1,046.992 S/1,050.98520586631 6.350% Bonos Soberanos due 2028 S/1,072.846 S/1,075.91019222746 6.350% GDNs due 2028 S/1,071.846 S/1,075.91019222746 5.940% Bonos Soberanos due 2029 S/1,059.270 S/1,062.29541734861 5.940% GDNs due 2029 S/1,058.270 S/1,062.29541734861 6.950% Bonos Soberanos due 2031 S/1,091.851 S/1,094.96947305927 6.950% GDNs due 2031 S/1,090.851 S/1,094.96947305927 (1) Each GDN represents one Bono Soberano of S/1,000 in principal amount. The Purchase Prices of Existing GDNs reflect fees associated with the cancellation of the Existing GDNs payable to Citibank, N.A., as the depositary. The Exchange Consideration for the Existing GDNs will not reflect such fees. (2) Per S/1,000 in principal amount of Existing Bonds. Each offer to exchange and each tender for purchase for any series of Existing Bonds is made as a separate, independent offer. Peru reserves the right, in its sole and absolute discretion, not to accept some or all Existing Bonds tendered in any Exchange Offer or Cash Tender Offer in respect of one or more series of Existing Bonds, and any Offer may be subject to proration at the sole discretion of Peru. In addition, Peru reserves the right, in its sole and absolute discretion, to modify in any manner, any of the terms and conditions of the Offers. The Exchange Consideration for each series of Existing Bonds was determined by dividing the Purchase Price for the applicable series of Existing Bonos Soberanos by the issue price of the New Bonos Soberanos being concurrently offered for cash, which was 99.7152%. Peru is making the Offers only in those jurisdictions where it is legal to do so. The Offers are void in all jurisdictions where such Offers are prohibited. If materials relating to the Offers come into your possession, you are required by Peru to inform yourself of and to observe all of these restrictions. The New Bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws. Accordingly, the Offers will only be directed, and copies of the offering documents will only be made available, to a holder of the Existing Bonds who has certified its status as (1) a "qualified institutional buyer" in reliance on Rule 144A under the Securities Act or (2) a non-U.S person in offshore transactions in reliance on Regulation S under the Securities Act. Terms used in this paragraph have the meanings given to them by Rule 144A and Regulation S under the Securities Act. Only holders who have properly completed and submitted the Eligibility Certification are authorized to receive and review the Exchange and Tender Offering Memorandum. Holders may obtain the Eligibility Certification by contacting the Tender, Exchange and Information Agent per its contact details below. The materials relating to the Offers do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. FURTHER INFORMATION The Tender, Exchange and Information Agent for the Offers is: Global Bondholder Services Corporation65 Broadway – Suite 404New York, NY 10006United States of AmericaAttention: Corporate ActionsBanks and Brokers call: (212) 430-3774Toll free: (855) 654-2015 Email: contact@ The Peruvian Market Maker for the Offers is: Banco Santander Perú Rivera Navarrete 475 Piso 14,San Isidro, Lima, PerúEmail: santransaccionperu@ The Issuer for the Offers is: Ministerio de Economía y Finanzas del Perú Jr. Junín No. 319Lima, PerúEmail: subastas@ DISCLAIMERThe Exchange and Tender Offering Memorandum is not for release, publication or distribution to any person located or resident in any jurisdiction where it is unlawful to distribute the Exchange and Tender Offering Memorandum. Persons into whose possession any Exchange and Tender Offering Memorandum comes are required by Peru, the Dealer Managers and the Tender, Exchange and Information Agent to inform themselves about, and to observe, any such restrictions. This announcement is neither an offer to purchase nor the solicitation of an offer to sell any of the securities described herein, nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Offers are made solely pursuant to the Exchange and Tender Offering Memorandum dated the date hereof. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE NEW BONDS HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE SECURITIES ACT, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION AND THE NEW BONDS MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE LAWS OF OTHER JURISDICTIONS. This announcement is for distribution only to persons who (i) have professional experience in matters relating to investments falling within the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order, (iii) are persons falling within Article 43 of the Order, (iv) are outside the United Kingdom, or (v) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons. This announcement must be read in conjunction with the Exchange and Tender Offering Memorandum. This announcement and the Exchange and Tender Offering Memorandum contain important information which should be read carefully before any decision is made with respect to any Offer. If any holder of Existing Bonds is in any doubt as to the action it should take, it is recommended that such holder seek its own financial and legal advice, including as to any tax consequences, immediately from its stockbroker, bank manager, attorney, accountant or other independent financial or legal adviser. None of Peru, the Dealer Managers or the Tender, Exchange and Information Agent makes any recommendation as to whether holders of Existing Bonos Soberanos or Existing GDNs should tender Existing Bonos Soberanos or Existing GDNs or participate in the Offers. This announcement contains forward-looking statements and information that is necessarily subject to risks, uncertainties and assumptions. No assurance can be given that the transactions described herein will be consummated or as to the terms of any such transactions. Peru assumes no obligation to update or correct the information contained in this announcement. View original content: SOURCE Republic of Peru Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
