Belize restructuring to drag as creditors set to reject terms

Belize, superbond, rubbish, beach, LAtAm
By Oliver West
26 Jan 2017

Analysts believe that Belize’s third restructuring of the century could drag on long after the government’s target end-date of March after certain bondholders said they would reject a proposed amendment to the terms of its so-called “superbond”.

On January 13, the government of Belize asked bondholders on its $526.5m 2038s to allow it to delay the amortisation of the notes and reduce the coupon rate. Instead of beginning to pay back the principal annually in August 2019, the sovereign asked to have three equal annual ...

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