Suriname to reschedule 23s but restructuring risks loom

Suriname, Paramaribo, boats, river, LatAm, jungle, 575
By Oliver West
02 Jul 2020

Suriname took a market-friendly approach to arranging debt relief this week as bondholders agreed to delay the amortisation schedule on its 2023s. But a full restructuring remains on the cards.

On June 30, B3/CCC+/C rated Suriname failed to make a $15.625m amortisation payment and $8m of interest due on its $125m of amortising 9.875% 2023s. Immediately the sovereign launched a consent solicitation seeking to reschedule payments.

The deal looks to have been wrapped before it was announced. The ...

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