Belize Launches Debt Swap

Belize Launches Debt Swap

Caribbean

Belize offered to swap its outstanding commercial foreign debt for new dollar bonds, Monday, following approval of the plan last week from the country's National Assembly. The new bonds mature in 2029, with principal payments starting in 2019. The bonds will bear interest in the first three years after issuance at a fixed per annum rate of 4.25%. In years four to five, the rate will step up to 6.00%, and thereafter through the maturity of the bonds the interest rate will level off at 8.50% per a

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