Suriname goes easy on 2023 holders but fiscal fright feared

Suriname, river, South America, jungle, LatAm, Caribbean, 575
By Oliver West
02 Jul 2020

Suriname appeared to take a market-friendly approach to arranging debt relief on Wednesday as bondholders agreed to delay the amortisation schedule on its 2023s. But a full restructuring is still on the cards as the outgoing government appeared to wash its hands of responsibility for what is likely to be dire forthcoming economic data.

Amid an economic crisis worsened by the coronavirus pandemic, on June 30 B3/CCC+/CCC rated Suriname failed to make a $15.625m amortisation payment and $8m of interest due on its $125m of amortising 9.875% 2023s.

Immediately, and despite a change in government expected in the coming days, the sovereign ...

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