Belize says dollar bond purchase offer gets robust demand

Economy10 minutes ago (Sep 25, 2021 10:10AM ET)

(Reuters) – Belize has received tender orders on its Sept. 13 purchase offer equal to around 84.38% of the aggregate principal amount of its outstanding dollar bonds due 2034, and it will give bondholders more time to submit orders, the government said on Friday.

“The government of Belize is delighted that the vast majority of holders of the government’s only international bond have indicated their support for this proposed transaction,” Belize’s prime minister, John Briceno, said in a statement https://www.centralbank.org.bz/docs/default-source/7.0-news-advisories/belize—expiration-time-extension-press-release-(september-2021)-4834-2507-9292-v32908eb9088c3664c9e9cff00006477e9.pdf?sfvrsn=5ecb8d35_2.

“We are attempting to achieve, in this one transaction, both significant debt relief and the long-term protection of Belize’s precious marine environment,” he added.

Earlier this month, the Central American country said it had reached a deal with a sizeable portion of its “superbond” holders to restructure the debt, helped by a promise to spend significant amounts of money on marine conservation https://www.reuters.com/business/environment/marine-conservation-promise-helps-belize-strike-superbond-deal-2021-09-03.

Due to the influx of orders it received on its purchase offer, Belize said the super-majority consent condition set out in the Sept. 13 https://www.centralbank.org.bz/docs/default-source/7.0-news-advisories/belize—launch-press-release-4830-0091-4938-v-final.pdf?sfvrsn=98c38d35_2 offer had been satisfied.

Still, it noted the offer and exit amendments set out remain subject to the satisfaction of certain conditions.

To give bondholders who have not yet done so an additional opportunity to make tender orders, the government is extending the expiration time for its offer to Oct. 15, at 5 p.m. New York City time, the government said.

Belize says dollar bond purchase offer gets robust demand

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Stories

Enjoying my content?

Join the exclusive subscription today and get premium articles for free

Discover

U.S. House committee backs contempt charge against Trump aide...

World46 minutes ago (Oct 19, 2021 08:22PM ET) (C) Reuters. FILE PHOTO: Former White House...

Japan’s Sept exports rise more than expected

Economy49 minutes ago (Oct 19, 2021 08:19PM ET) (C) Reuters. A laborer works in a...

Biden, Democrats aim for deal on spending package in...

World6 minutes ago (Oct 19, 2021 08:02PM ET) 2/2 (C) Reuters. FILE PHOTO: U.S. President Joe...

Global ‘Squid Game’ mania lifts Netflix quarter

Economy12 minutes ago (Oct 19, 2021 07:56PM ET) 2/2 (C) Reuters. FILE PHOTO: A smartphone with...

U.S. Senate panel to hold new hearing on social...

Stock Markets26 minutes ago (Oct 19, 2021 07:41PM ET) (C) Reuters. Young girls look at...

U.S. House committee nears contempt vote on Trump aide...

World7 minutes ago (Oct 19, 2021 07:01PM ET) (C) Reuters. FILE PHOTO: Former White House...

Popular Categories