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InvestmentsBelize settles U.S. bond cash tender offer with pivot towards marine conservation...

Belize settles U.S. bond cash tender offer with pivot towards marine conservation By Reuters


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MEXICO CITY (Reuters) – In a swap to bolster marine conservation, Belize mentioned Friday it settled its cash tender offer to buy U.S. greenback bonds due in 2034 and redeem all bonds that weren’t tendered into the offer.

Belize financed the acquisition and the redemption of its bonds – an quantity equal to about 12% of its gross home product – with funding from a subsidiary of The Nature Conservancy (TNC) as a part of group’s “blue” bonds program https://www.reuters.com/business/cop/belize-offers-ocean-blue-print-with-debt-for-reef-swap-2021-11-05 to preserve among the world’s most weak marine ecosystems.

The settlement of the offer means Belize diminished the principal quantity of its exterior debt by roughly $250 million, the federal government mentioned in a press release.

As a part of the transaction, Belize’s authorities prefunded almost $23.5 million to a marine conservation endowment account devoted to supporting future marine conservation tasks within the nation.

“Our expectation is that this transaction will pave the way for strong and long-lasting economic growth and allow Belize to achieve its marine conservation objectives,” Belize’s Prime Minister John Briceno mentioned within the assertion.

The TNC program makes use of personal capital to refinance public debt of collaborating international locations as a way to help marine conservation efforts.

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