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Super Bond Holders to be Paid Off

Holders of the Superbond are expected to be paid off tomorrow as government officials have finalized the tender offerings with more than eighty seven percent of the bondholders. The majority bondholders will be paid fifty-five cents on every dollar owed to them. Love News understands that the remaining thirteen percent will be dealt with down the road in accordance with the agreement reached with the majority. The Superbond was brought about under the Musa Administration back in 2007/2008 when the government sought to carry out a debt consolidation. In several instances the government has had to revisit the repayments and had rescheduled the bond on three occasions. The bond is being paid off by the Credit Suisse Group of Switzerland through the Nature Conservancy (TNC). A joint press release from the Government of Belize and TNC is expected to be issued by the week’s end. We will keep you posted.