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Mark Espat Returns to the Negotiation Tables

Former PUP Minister and former UDP Superbond negotiator is back in the circles of the People’s United Party as he has been appointed as a member of the superbond team of negotiators. Mark Espat joins similar faces from the last restructuring. The last time there was a superbond negotiating team the Barrow administration paid fees in the area of fifteen million dollars. Minister Coye was uncertain what the figure will be this time around, but he did tell the media it would be worth it if the outcome of the negotiations are favorable.

Christopher Coye, Minister of State [FINANCE]: “Mark Espat is a part of the debt management team. It’s essentially the 2017 restructuring team. We have the Citi Financial Markets, they’re the external financial advisor. We also have Lee Buchheit as the strategic advisor and then we also have Sullivan & Cromwell as our legal advisors. It’s a worthwhile investment if we are able to get meaningful debt relief not in terms of just cash flow relief but actual debt relief.”