Le Lézard
Classified in: Business
Subject: CXP

Republic of Suriname Announces Successful Results of Consent Solicitation


PARAMARIBO, Suriname, July 9, 2020 /PRNewswire/ -- The Republic of Suriname (the "Republic") announced today that it has received the Requisite Consents (as defined below) as of 5:00 p.m., New York City time, on July 8, 2020 (the "Expiration Time"), according to Global Bondholder Services Corporation, the Information and Tabulation Agent, for its consent solicitation announced on June 30, 2020 (the "Consent Solicitation"), relating to its 9.875% Notes due 2023 (the "2023 Notes") and the Accounts Agreement in connection with the 2023 Notes.

Following acceptance of the Requisite Consents, the Republic will be executing a supplemental indenture to the indenture governing the 2023 Notes, and an amended and restated Accounts Agreement, effecting the proposed amendments and the waiver approved in the Consent Solicitation and described in the Consent Solicitation Statement dated as of June 30, 2020 (the "Consent Solicitation Statement"). The proposed amendments and waiver will not become effective until the Consent Payment (as defined below) has been paid.

The 2023 Notes were originally issued on December 20, 2019 in an aggregate principal amount of US$125,000,000.  As of the date of the Consent Solicitation Statement, US$125,000,000 in aggregate principal amount of the 2023 Notes remained outstanding.

The Consent Solicitation expired on the Expiration Time. The Republic expects to pay holders of 2023 Notes whose consents were validly delivered and accepted by the Republic (the "Consent Payment") promptly in accordance with the Consent Solicitation Statement.

The proposed amendments and the waiver required valid consents from holders of not less than 75% of the outstanding principal amount of the 2023 Notes to become effective (the "Requisite Consents").

As of the Expiration Time, the approximate percentage of the outstanding principal amount of the 2023 Notes for which the Republic has received and accepted consents is as follows:           

Title of Security

ISIN / Common Code

Outstanding Principal

Amount

Percentage of Aggregate

Outstanding Principal

Amount that has Consented

9.875% Notes due 2023

 

Restricted: 86886P AB8 / US86886PAB85

Regulation S: P68788 AB7 / USP68788AB70

US$125,000,000

99.84%

*********

This announcement is for informational purposes only and is not a solicitation of consents of any holders of 2023 Notes. The solicitation of consents of holders has only been made pursuant to the Consent Solicitation Statement.

Oppenheimer & Co. Inc. is the Solicitation Agent in connection with the Consent Solicitation. Global Bondholder Services Corporation is the Information and Tabulation Agent in connection with the Consent Solicitation.     

NONE OF THE SOLICITATION AGENT, THE TRUSTEE, THE ACCOUNT BANK, THE INFORMATION AND TABULATION AGENT NOR ANY OF THEIR RESPECTIVE DIRECTORS, EMPLOYEES, AFFILIATES, AGENTS OR REPRESENTATIVES HAS MADE ANY RECOMMENDATION AS TO WHETHER HOLDERS SHOULD HAVE DELIVERED CONSENTS TO THE PROPOSED AMENDMENTS AND THE WAIVER PURSUANT TO THE CONSENT SOLICITATION, AND NO ONE HAS BEEN AUTHORIZED BY ANY OF THEM TO MAKE SUCH A RECOMMENDATION. EACH HOLDER MUST MAKE ITS OWN DECISION AS TO WHETHER TO GIVE A CONSENT.

The Consent Solicitation Statement is available from the Information and Tabulation Agent. The Information and Tabulation Agent for the Consent Solicitation is:

Global Bondholder Services Corporation
65 Broadway ? Suite 404
New York, New York 10006
Attn: Corporate Actions
Banks and Brokers call: +1 212 430-3774
Toll free: +1 866-470-4200
By facsimile:
(For Eligible Institutions only):
+1 212 430-3775/3779
Confirmation:
+1 212 430-3774
Email: contact@gbsc-usa.com

Any questions regarding the terms of the Consent Solicitation should be directed to the Solicitation Agent or the Information and Tabulation Agent at their respective addresses and telephone numbers set forth on this communication. Requests for additional copies of the Consent Solicitation Statement or any other related documents may also be directed to the Information and Tabulation Agent.

The Solicitation Agent for the Consent Solicitation is:

Oppenheimer & Co. Inc.
85 Broad Street
New York, New York 10004
Attention: Debt Capital Markets
+1 212 667-7424

*********

Republic of Suriname
acting through the Minister of Finance of the Republic
S.M. Jamaludinstraat 26
Paramaribo
Suriname

 

SOURCE Republic of Suriname


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