Nicaragua Scalps Investors in Workout

Nicaragua Scalps Investors in Workout

Corporate & Sovereign Strategy

Nicaragua has negotiated a deal with almost all of its creditors for a whopping 95.5% haircut on $1.4bn in debt. From the overall amount of eligible claims of $1.4bn, more than $1.3bn was tendered and accepted for redemption by Nicaragua at 4.5% of the current value of the claims. Participation by financial institutions exceeded 99% and included all of the vulture funds holding the sovereign, according to the debtor. The operation was implemented with a grant from the World Bank's Debt Reduction

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial