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Blue Bond is ‘Deal of the Year’

Posted: Wednesday, December 7, 2022. 10:54 am CST.

By Aaron Humes: According to those who follow financial matters in the area of bonds and loans, Belize’s “Super Bond” retirement/”Blue Bond” restructuring is the “Sovereign Restructuring Deal of the Year.”

The Bonds & Loans Latin America & the Caribbean Awards on November 30, 2022, in Miami, Florida, recognized Belize’s efforts. Beverly Wade, Director of the Blue Bonds and Finance Permanence Unit in the Office of the Prime Minister, accepted the award on behalf of the Government.

This is the third award the Government of Belize received in relation to its historic and successful restructuring of the “Superbond”, following those received from Environmental Finance magazine earlier this year.

The restructuring translated to an overall debt reduction of US$250 million, debt servicing savings of US$250 million, and an estimated US$180 million to support the conservation and responsible use of Belize’s marine resources.

Since 2015, the Bonds & Loans Awards has recognised the most innovative and groundbreaking deals from sovereign, corporate and financial institution issuers and borrowers. The awards have been acclaimed as the world’s leading Pan-Latin America and Caribbean debt event, bringing together the industry’s most high-profile figures and creating an opportunity to raise the profile of the financial markets with the international investment community, and to inspire future issuance by Latin American and Caribbean companies.

The award selection process involved a close examination of deal size, tenor, structure and distribution as well as analysis and background of the borrower and their accessibility to financing, with extra credit for those deals demonstrating high-quality execution, accessing new pools of liquidity, innovative structuring, and opening up new markets.

 

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