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Chamber of Commerce backs “blue bond financing”

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Posted: Monday, September 13, 2021. 12:20 pm CST.

By Aaron Humes: The Chamber of Commerce and Industry (BCCI) appears to like what it has been hearing concerning the Government of Belize (GOB) employing The Nature Conservancy (TNC)’s Blue Bonds for Ocean Program (“Blue Bond Financing”)
to restructure the Belize US Dollar Bonds due 2034 (“SuperBond”).

Effectively, if three-quarters of bondholders agree, the Chamber says Belize stands to save massively in terms of cash flow relief, but the terms do indicate that the new bond arrangements will cost US$330 million due in 19 years, I.e. by 2049 (amortized principal payments commencing in the year 2030). If successful it represents a sizable reduction in the national debt at a critical time for financing.

The cash offer was initiated last week and closes by November 19.

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