Superbond achieves 98.1 percent subscription rate

If the Belize government was as prudent at getting into debt as it is at getting out, then the country would be one of the most prosperous in the world. That exaggerated editorial conclusion is actually a compliment based on Belmopan’s final report on its superbond offer. In a press release, G.O.B. announced that the exchange offer, which closed today, was subscribed by ninety-eight point one percent of its creditors. Ninety-six point eight voluntarily agreed while the remaining one point three percent were forced to go along by the collective action clause of the original bonds. The face value of the new bonds totals five hundred and forty-six point eight million U.S. dollars. They mature in 2029 and will now be traded on international markets.