Zambia to meet bondholders on restructuring
Oct 05, 2022
Lusaka (Zambia), October 5: The Zambian government will soon meet bondholders of a 750 million-U.S.-dollar Eurobond, which matured last month, to discuss how it could be restructured, said a senior official on Tuesday.
The meeting will focus on restructuring the repayment of the Eurobond to the creditors, said Situmbeko Musokotwane, the Minister of Finance and National Planing.
Since last month, the government has been seeking new terms of payments for Eurobonds including the deferment of the payment.
Zambia issued three Eurobonds between 2012 and 2015, with the first worth 750 million dollars in 2012, the second 1 billion dollars in 2014 and the third 1.25 billion dollars in 2015.
The first Eurobond was due for payment in Sept. 23 when it matured, while the government was scheduled to settle the second bond in 2024 and the third bond in 2025.
Source: Xinhua
