Debt Restructuring


Belize Prime Minister Announces New Debt Terms on Defaulted Bond

By Adam Williams – Feb 12, 2013 12:32 PM CT Belize’s government proposed extending maturities and cutting the coupon on the country’s $544 million of defaulted debt as part of the Central American nation’s second debt restructuring since 2007. Prime Minister Dean Barrow’s plan would extend the maturity on the defaulted bonds to 2038 from 2029 and lower the current coupon to 5 percent from 8.5 percent. Barrow, speaking to the lower house in Belmopan, said the agreement would provide the country $247 million in relief over the next 10 years. “There is no reason to fear that with this […]


SuperBond Motion Text – 2013

BELIZE HOUSE OF REPRESENTATIVES 12TH FEBRUARY, 2013 GOVERNMENT OF BELIZE – EXTERNAL DEBT RESTRUCTURING MOTION, 2013 _________ .. _________ WHEREAS, the Government of Belize is currently engaged in an exercise to restructure its external debt with a view to achieving a sustainable debt position; AND WHEREAS, as a key element of this exercise, the Government of Belize proposes to issue certain debt securities in the form of new U.S.$ Bonds (“the New Bonds”) to be given in exchange for Eligible Claims held by certain existing security holders; AND WHEREAS, the terms and conditions of the New Bonds are as follows:- […]