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Barbados reaches debt restructuring deal with creditors

Barbados reaches debt restructuring deal with creditors

October 21, 2019 | Daniel Bases
Government comes to an agreement with investors at the World Bank/IMF meetings in Washington DC

Asset Management Capital Markets Bonds Debt Debenture Corporate & Sovereign Strategy Economy & Policy Fixed Income Funds Loans Barbados

Barbados agreed to settle with international creditors nearly a year-and-a-half after defaulting on its debt under an arrangement that includes plans to issue new bonds, the two sides said in a joint statement on Friday. Creditors, led by Eaton Vance Management, Greylock Capital Management, Teachers Advisors and Guyana Bank for Trade and Industry, will take a 26.3% cut on the aggregate sum of the original principal and 14 months worth of past due and accrued interest as of October 1, 2019. Barba

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