fbpx
Confirmed cases of COVID-19 in Belize now at 19,600
September 24, 2021
Active COVID-19 infections now over 1,900, could be over 2000 by next week
September 24, 2021

BREAKING: Supermajority of bondholders agree to retire Superbond

  • 480
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    480
    Shares

Posted: Friday, September 24, 2021. 5:40 pm CST.

By Aaron Humes: This evening Minister of State for Finance Christopher Coye confirmed with us that a supermajority – 84.38 percent – of the holders of Belize’s Dollars Bonds due 2034 (alias ‘The Superbond’) have agreed to Belize’s terms and conditions.

There had been some concerns about the ten percent of bonds held by the Bolivarian Republic of Venezuela but with the representatives of the Creditor Committee numbering almost half and others agreeing almost immediately, it was simply a matter of bringing in the rest. Coye says Venezuela is not part of the supermajority but will still benefit.

Today was the deadline to render in response

Belize offered 55 cents on every dollar for bonds redeemed early including an interest payment and has agreed to establish a Marine Conservation Endowment Fund.

Belize is also working on financial arrangements with The Nature Conservancy and Credit Suisse AG.

What has been achieved is certainly a tremendous success, Coye said, especially since it was done in two weeks. The bondholders agreed to proceed despite the massive loss of profit they have suffered.

The inside date for settlement is October 19, by which time Coye believes we will have the financing to repay. The outside date of settlement is November 19 if any extra time is needed.

Comments

 

Аdvеrtіѕе wіth thе most visited news site in Веlіzе ~ Wе оffеr fullу сuѕtоmіzаblе аnd flехіblе dіgіtаl mаrkеtіng расkаgеѕ. Yоur соntеnt іѕ dеlіvеrеd іnѕtаntlу tо thоuѕаndѕ оf uѕеrѕ іn Веlіzе аnd аbrоаd! Соntасt uѕ аt [email protected] оr саll uѕ аt 501-601-0315.

 

© 2021, BreakingBelizeNews.com. This article is the copyrighted property of Breaking Belize News. Written permission must be obtained before reprint in online or print media. REPRINTING CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.

  • larry waight
  • galen university

Leave a Reply

Your email address will not be published. Required fields are marked *