Belize settles U.S. bond cash tender offer with pivot towards marine conservation -Breaking
MEXICO CITY (Reuters – Belize has announced that Friday, it will settle its cash tender offer for U.S. Dollar bonds due in 2034. It also plans to redeem bonds that weren’t offered to the offer.
Belize financed the purchase and the redemption of its bonds – an amount equal to about 12% of its gross domestic product – with funding from a subsidiary of The Nature Conservancy (TNC) as part of organization’s “blue” bonds program https://www.reuters.com/business/cop/belize-offers-ocean-blue-print-with-debt-for-reef-swap-2021-11-05 to conserve some of the world’s most vulnerable marine ecosystems.
In a statement, the government stated that Belize has reduced its principal debt to the world by $250 million as a result of the settlement.
The transaction included a prefunding of nearly $23.5 Million by the Belize government to a marine conservation fund account that will support future marine conservation projects.
The statement said that Belize’s Prime Minster John Briceno expressed confidence in the transaction.
TNC uses private capital for the refinance of public debts in participating countries to help support marine conservation.
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