By Joseph Mapalo Kamanga
The Republic of Zambia has announced positive initial results from its cash tender offer for the outstanding US$1.365 billion Fixed Rate Step-Up Amortising Notes due 2053. Launched on May 29, 2026, the offer invited eligible bondholders to sell their notes back to the government before maturity, provided that financing conditions are satisfied.
By the Early Participation Deadline of June 9, 2026, the government had received valid tenders totaling US$1.335 billion. This amount represents 97.85% of the total outstanding notes, reflecting broad investor participation and support for this liability management initiative. The transaction is part of Zambia’s ongoing efforts to manage debt and restructure obligations to improve long-term debt sustainability.
© Zambe Reports | June 11, 2026