Creditors refuse to postpone Zambia’s interest payment

Zambia’s Bondholders Reject Debt Deferra

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

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

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COMMENTS

WORDPRESS: 2
  • comment-avatar
    Njekwa wa lubinda 2 weeks ago

    What is the meaning of this? Lose our sovereignty or what? Or posterity enslavement. This is clumsy and

  • comment-avatar
    Muna Dekhane 2 weeks ago

    Munyenge, wa Munyenge Mwanyenga Zambians not Bondholders