The Republic of Congo announced a plan to buy back just over $575 million in bonds due in 2032.
The move aims to reduce borrowing costs as it pursues a new support programme with the International Monetary Fund.
The government is offering $1,040 for every $1,000 of principal, plus accrued interest on the outstanding bonds.
The bonds were originally issued in 2022 at 9.875 percent and were later reopened in December 2025.
The buyback will be financed through new dollar-denominated debt expected to carry an eight-year weighted average life.
Final pricing and terms will be determined after the offer period closes on May 19, officials said.
If less than 25 percent of the bonds remain, the government plans to redeem the balance at full value plus interest.
Settlement is expected around May 26 or later, depending on the timing of the new bond issuance.
The strategy comes amid ongoing discussions with the International Monetary Fund, which has described the country’s outlook as fragile.
The IMF has cited weak investment levels and persistent energy supply constraints as key risks to recovery.
Staff from the IMF are expected to visit the country soon to review proposed economic reforms and policy adjustments.
Citigroup is acting as dealer manager for the tender and sole bookrunner for the planned issuance.
The Republic of Congo is rated CCC+ by both Standard & Poor’s and Fitch Ratings, while Moody’s assigns a Caa2 equivalent.