The Republic of Congo announced on Tuesday that it will buy back roughly 354.3 million US dollars in principal of its 9.875 percent amortising notes due 2032, according to a notice filed on the London Stock Exchange and reported by Reuters.

The central African nation set the purchase price at 947.50 US dollars per 1,000 US dollars of principal, bringing the total tender consideration, including accrued interest, to about 346.0 million US dollars. The repurchase is scheduled to settle around February 23, 2026.

The tender offer, initially capped at 350 million US dollars, was later increased to 390 million US dollars to accommodate higher participation without prorating acceptances. Citigroup Global Markets Limited served as dealer manager, with Citibank, N.A., London Branch, acting as the information and tender agent.

Congo first announced the tender last week alongside plans to issue a new series of US dollar-denominated notes. The operation is part of a broader external debt management strategy aimed at reducing obligations on high-interest instruments while lengthening maturities. The notes targeted in the repurchase were originally issued when the country returned to the international bond market in late 2025, raising about 670 million US dollars after nearly two decades away.