Suriname Seeks to Defer Payments On $675 Million In Debt

Suriname’s government has asked creditors for a payment deferral on its two bonds, which total $675 million in size, in what analysts said could be a prelude to a broader debt restructuring, Reuters reported. The government of the South American nation announced the launch of a consent solicitation for its two bonds, due in 2023 and 2026, in a statement on Saturday. The consent solicitation expires on Nov. 23. The move had been expected after Suriname said late last month that it wanted to make use of a 30-day grace period on its dollar-bond coupon payments due on Oct. 26 to talk to creditors about its debt sustainability issues. “Assuming Suriname obtains the approval for the requests specified in the consent solicitation, there will be a deferral of certain interest and principal payments otherwise falling due in 2020,” the government said in the statement. Read more

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