Belize Proposes Restructuring Scenarios
The government of Belize has put forth indicative debt restructuring scenarios including haircuts and maturity extensions for discussion with holders of 2029 "super bonds," puzzling and spooking analysts. The government contemplates one scenario with no reduction of principal, a 15-year grace period, a 2% coupon and final maturity of 2062. A second sees a 45% haircut, no grace period, and a coupon of 1% through 2019,...
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