5 year AUSTERITY BUDGET ANNOUNCED BY PRIME MINISTER.
$30 MILLION SHORT ON BALANCING THE BUDGET FOR 2012, SAYS THE PRIME MINISTER.
OBSERVERS SAY OIL EXPORTS EXPECTED TO CONTINUE DECLINE OVER NEXT FIVE YEARS, TO A TRICKLE, HAVING PAST PEAK OIL PRODUCTION IN BELIZE.
Bond Holders Not Too Happy With Restructuring Of Superbond

The ad hoc committee represents holders of more than $200 million of the $547 million bond due in 2029. In the release creditors indicate that while they are sympathetic to the challenges facing Belize, any proposed amendment that results in a net present value or principal loss to creditors would not, based on the committee’s current understanding of the situation in Belize, be considered acceptable or, for that matter, necessary. How the recently formed committee will impact the present negotiations of the superbond is left to be seen. But the news forthcoming doesn’t seem to be all that good.
Belize’s creditors committee is advised by BroadSpan Capital, a Latin America-focused investment banking boutique that also advised international creditors to Saint Kitts and Nevis, the Caribbean island federation, in debt restructuring this year.
No comments:
Post a Comment