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Belize commences official offer to buyback ‘Superbond’ under ocean conservation program

Posted: Wednesday, September 15, 2021. 11:21 am CST.

By BBN Staff: Belize has commenced the official offer to holders of its 2034 U.S. Dollar Bonds, otherwise known politically as the “Superbond”, to essentially buy back shares of the bond under a ‘Blue Bonds for Ocean Conservation Financing program in connection with The Nature Conservancy.

Belize made the official cash tender offer and consent solicitation on Monday. The consent deadline is September 24, 2021 and in that time, Belize is hoping to convince the majority of bondholders to get on board with the deal. So far, the Government of Belize has indicated that a committee representing approximately 50 percent of holders of the bond has agreed in principle with the deal.

The buy-back offer makes certain incentives for holders of the bond including an accrued interest payment.

“Eligible Holders who validly tender their Bonds at or before 5:00 p.m., New York City time, on September 24, 2021 (as the same may be extended, the “Consent Deadline”) will be eligible to receive the Total Payment, which consists of the Purchase Price, the Accrued Interest Payment and the Contingency Account Distribution,” a statement from the government said.


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