Zambia’s Bondholders Reject Debt Deferra
Friday, November 13, 2020
By Carla Canivete
(Bloomberg)
Zambia bondholders rejected a request by the country for a six-month delay in interest payments, which represents about $120 million of coupons, according to regulatory filings.
Consent had been requested from holders of Zambia’s dollar-denominated 5.375% notes due 2022, 8.500% notes due 2024, 8.970% notes due 2027
Zambia also faces the expiry of a 30-day grace period today, after skipping an interest payment on $1 billion of bonds due 2024 at the end of October
Zambia will be in technical default if it doesn’t pay the coupon by the end of the day
NOTE: Zambia on Brink of Default With Creditors Set to Reject Relief
To contact the reporter on this story:
Carla Canivete in London at ccanivete@bloomberg.net
Friday, November 13, 2020 01:07 PM
By Carla Canivete
(Bloomberg) –Zambia bondholders rejected a request by the country for a six-month delay in interest payments, which represents about $120 million of coupons, according to regulatory filings.
Consent had been requested from holders of Zambia’s dollar-denominated 5.375% notes due 2022, 8.500% notes due 2024, 8.970% notes due 2027
Zambia also faces the expiry of a 30-day grace period today, after skipping an interest payment on $1 billion of bonds due 2024 at the end of October
Zambia will be in technical default if it doesn’t pay the coupon by the end of the day
NOTE: Zambia on Brink of Default With Creditors Set to Reject Relief
To contact the reporter on this story:
Carla Canivete in London at ccanivete@bloomberg.net

LEAVE A REPLY

Please enter your comment!
Please enter your name here