In other news which extends between Belize and other territories, on Friday Government again extended its offer to bondholders. This is the second one week extension, but, again, the government has not sweetened its offer to bondholders - it's still offering the very same terms. That basically means its a stare-off, with both sides waiting to see who blinks first. The bondholders are hoping that the Superbond payment which is due on February 20th will give the government some sense of urgency. But, smart money tell us Government won't blink for that either, and is willing to default on that 26 million dollar payment.
So, now, the current offer expires on at 5:00 pm Eastern on Friday, February 10, 2017. Government has proposed to push back to bullet payments to three equal, annual installments in 2036, while fixing the interest rate at 4% per annum.
Email
Print