Belize Nears Exchange Offer

Belize Nears Exchange Offer

Belize Bonds

Belize’s government is close to approval for a debt exchange offer targeting its 2029 super bonds, it says, extending the maturity and giving a 10% haircut. The plan is to issue new bonds due 2038, amortizing twice annually beginning August 2019. They would pay a 5.0% coupon stepping up to 6.767% in August 2017, versus the 8.5% on the current bonds. Accepting holders would receive new bonds worth 90% of their 2029 holdings, plus past due and accrued but unpaid interest. The haircut and interest

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