July 10, 2020 |
Suriname said on Thursday that it had succeeded in getting consent from nearly all of its bondholders to defer payment of principal of its 9.875% 2023 notes.
The consent solicitation, which expired on Wednesday, had been announced on June 30.
The 2023 notes were originally issued in December 2019 to pay for the Afobaka hydroelectric dam owned by US aluminum producer Alcoa. The same aggregate principal amount of $125 million remained outstanding for this amortizing debt with an average life of 2
Holders of 99.84% of the sovereign issuer's 2023 notes agreed to defer payment of principal