Barbados set to complete restructuring on strong creditor support

Barbados, beach, Caribbean, resort, sea, LatAm
By Oliver West
25 Nov 2019

Barbados is on the brink of completing an 18 month long debt restructuring after bondholders supported an exchange offer that the government said will cancel $200m of debt.

Some 94% of eligible bondholders agreed to participate in an exchange for $667m of the island nation’s dollar debt by Friday’s deadline, agreeing to swap into a new 6.5% bond maturing in 2029 and take some cash. 

Collective action clauses meant Barbados required the approval of just 75% of ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial