BusinessLocal NewsNews Bond deal by Barbados Today 06/11/2019 written by Barbados Today 06/11/2019 2 min read A+A- Reset Share FacebookTwitterLinkedinWhatsappEmail 366 Eligible holders of certain US dollar denominated government debt now have three weeks to exchange them for new bonds issued by Barbados, the Ministry of Finance, Economic Affairs and Investment said on Tuesday. The announcement came almost three weeks after Government said it had reached an agreement in principle with the Barbados External Creditor Committee. The invitation to exchange the debt applies to holders of three series of English law-governed US dollar bonds issued by Government in an aggregate principal amount of US$540 million; holders of certain Barbados law-governed US dollar bonds issued by the Barbados Transport Board, Barbados Agricultural Management Co. Ltd and the Government; lenders under a US$225 million credit agreement dated December 13, 2013. The release issued today said unless extended by Barbados “the loan invitation and the exchange offer portions of the English and Barbados law bond invitations will expire at 5 p.m. (New York City time) on Friday, November 22, 2019”. It added that the deadline for the consent solicitation relating to 2019 Bonds cleared through Euroclear or Clearstream is 5 p.m. (New York City time) on Friday, November 22, 2019, while the deadline for the consent solicitation relating to 2019 Bonds held in physical form is 5 p.m. (New York City time) on Monday, November 25, 2019. “The deadline for the consent solicitation portion of the English law bond exchange is 5 p.m. (New York City time) on Monday, November 25, 2019,” said the statement. You Might Be Interested In Crystal Beckles-Holder, 2nd runner up in regional competition GUYANA: Body of child found after gold mine collapses Barbadians asked to help with return tickets for Haitians “Holders should be aware that the bank, broker, dealer, trust company or other nominee through which they hold their existing claims may have earlier deadlines for taking action pursuant to the invitations,” it added. The statement said the Barbados bonds included in the English law bond invitation are the US$150 million bonds at 7.25 per cent due 2021; US$200 million bonds at 7 per cent due 2022; and the US$190 million bonds at 6.625 per cent due in 2035. “The Barbados law bond invitations will be made to holders of the Barbados law-governed Fixed Rate Non-Callable Guaranteed Bonds 2007-2022 issued by the Barbados Transport Board; the Barbados law-governed Fixed Rate Non-Callable Guaranteed Bonds 2007-2022 issued by Barbados Agricultural Management Co. Ltd; and the Barbados law-governed Class B Fixed Rate Bonds due 2019 issued by the Government of Barbados. Government said the launch of the invitations followed extensive discussions with the Barbados External Creditor Committee. “These discussions included a number of meetings between senior governmental officials and representatives from the four core members of the committee, which include Eaton Vance Management, Greylock Capital Management, LLC, Teachers Advisors, LLC, and Guyana Bank for Trade and Industry Limited,” the statement said, adding that the terms of the invitations “reflect the agreement in principle” between the Government and the Committee as described in the joint press release dated 18 October 2019. Barbados Today Stay informed and engaged with our digital news platform. The leading online multimedia news resource in Barbados for news you can trust. You may also like West Terrace Primary celebrates sporting, academic excellence at graduation 11/07/2025 Govt to launch parenting classes 11/07/2025 Barbadian student shines in Commonwealth essay competition 11/07/2025