• Latest
No Cash Transactions for Government this Friday

Grenada Launches Debt Exchange Offer

7 years ago
CEO at MNIB resigns 

CEO at MNIB resigns 

30 mins ago
Statement by Minister Simon Stiell at Ministerial Roundtable on Climate

Simon Stiell set to be appointed UN climate chief

3 hours ago
Ministry of Culture to finance Groovy/Soca finalists’ stage presentations

Minister for Culture congratulates carnival winners

3 hours ago
MNIB postharvest handling training

MNIB announces CEO’s resignation

3 hours ago
Harbour Master statement on the incident involving Anderson Peters

Harbour Master statement on the incident involving Anderson Peters

20 hours ago
Kirani, Anderson and Victor shine at World Champs 2022

Significant number of people involved in investigation

20 hours ago
No Holiday for Carriacou Carnival

Statement on altercation involving Anderson Peters and others

21 hours ago
Tropical Weather Outlook: Thursday, 11 August 2022 (2 pm)

Tropical Weather Outlook: Thursday, 11 August 2022 (2 pm)

24 hours ago
SDTB: Altercation involving Track Blazer member

SDTB: Altercation involving Track Blazer member

1 day ago
New National Party 2020 Christmas Message

NNP statement: Anderson Peters

1 day ago
World javelin champ thrown overboard from Harbour Master in Grenada

World javelin champ thrown overboard from Harbour Master in Grenada

1 day ago
Claims of coronavirus at SGU designed to create fear and panic

Covid-19 update: Grenada Dashboard 10 August 2022

1 day ago
NOW Grenada
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Grenada Launches Debt Exchange Offer

This story was posted 7 years ago
5 October 2015
in PRESS RELEASE
2 min. read
Ministry of Finance, Financial Complex, Saint George’s
Share

The Government of Grenada today made an offer to exchange its U.S. Dollar Bonds due 2025 and its E.C. Dollar Bond due 2025 (collectively, the “2025 Bonds”) for new U.S. and E.C. Dollar bonds to be issued by Grenada (“New Bonds”).

The offer to exchange the 2025 Bonds for New Bonds follows intensive and detailed negotiations with the Steering Committee of Grenada Bondholders, and will implement the ‘in principle’ agreement reached earlier this year to reduce the original principal amount of the 2025 Bonds by 50% in two stages. The first half of the principal reduction will be implemented upon the closing of the proposed transaction, with the remaining half upon timely completion by Grenada of its current Extended Credit Facility (ECF) with the International Monetary Fund.

The New Bonds have the following key financial terms:

  • a final maturity falling due in May 2030;
  • equal semi-annual principal amortizations commencing in May 2016;
  • a fixed annual coupon of 7.0%;
  • a sharing mechanism that will entitle holders to receive a capped portion of revenues that may be generated by Grenada’s citizenship-by-investment programme above certain thresholds following the successful completion of the the ECF; and
  • a ‘natural disaster clause’ that, subject to certain conditions, will enable Grenada to capitalise interest and defer principal maturities due on the bonds in the event that Grenada is adversely affected by tropical cyclones, earthquakes, or other natural disasters.

Simultaneously, Grenada confirmed that the closing of the proposed transaction is conditional upon receipt of written consent to a Reserve Matter Modification of the 2025 Bonds proposed in the exchange documentation from holders of at least 75% of the aggregate principal amount of each of the 2025 Bonds.

Tenders by holders of the 2025 bonds are due not later than 19 October, 2015. The transaction is expected to close, and the New Bonds to be issued, on or around 29 October 2015.

Information concerning the offer may be obtained from Natasha Marquez-Sylvester on +1 473 435 8915, or at [email protected]

Ministry of Finance & Energy

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.
Tags: bonddebtministry of finance and energy
Next Post
CDB provides USD 65 million for LIAT Fleet Modernisation

Caribbean Development Bank Mission

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings. Visit our Privacy Policy | Terms of Use.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.