Belize deadline nears after missed coupon payment

Belize, Dean Barrow, LatAm
By Oliver West
23 Feb 2017

Central American sovereign Belize failed to make a $13m coupon payment on its 2038 bonds this week, after saying it hoped to persuade bondholders to agree to a consent solicitation that would provide significant debt relief.

The government described its actions as “deferring” the payment, and prime minister Dean Barrow told local TV that Belize could take advantage of a 30 day grace period before defaulting.

Not all investors agree with such a strict definition of “default”, but Belize does appear to have left open ...

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