Belize Tender Sees Strong Response

Belize Tender Sees Strong Response

Belize Bonds Corporate & Sovereign Strategy

Belize has received acceptance from holders of 86.2% of its 2029 bonds targeted in an exchange offer closed March 8, the government says. The acceptance level tops the 75% threshold and was largely expected after the announcement last month that an ad-hoc group of bondholders would accept, following months of proposals and counterproposals. In the deal, the government is offering new bonds due 2038, amortizing twice annually beginning August 2019. They would pay a 5.000% coupon stepping up to 6.

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