Sovereign Analysis /
Belize

Belize launches cash tender offer in 'debt-for-ocean' swap

  • Belize launched today a cash tender offer and consent solicitation for the purchase of the Superbond

  • Financial terms imply settlement price of US$55, a 15pt premium to pre-deal price; offer needs 75% of holders to accept

  • Tender offer to be funded through a new Blue Bond Financing arrangement, a crucial innovation, but the biggest unknown

Belize launches cash tender offer in 'debt-for-ocean' swap
Stuart Culverhouse
Stuart Culverhouse

Head of Sovereign & Fixed Income Research

Tellimer Research
13 September 2021
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