Expect payment within 48 hours – Government for distressed bondholders
The government has assured bondholders who have not subscribed to the Domestic Debt Exchange Program (DDEP) that the process has begun to “fix payments on outstanding bonds”.
A statement issued by the Ministry of Finance on Tuesday, March 14 stated that the process began on Monday, March 13.
The guarantee came after the bondholders who had concerns about non-payment of coupons and principals that matured on the due date even though the previous guarantee was given after the Programme.
But the Finance Minister said: “The initial instructions cover the coupon and principal payments of the bonds maturing on February 6, 2023 and February 13, 2023.
“Bondholders listed above should expect to receive payment within the next 48 hours.”
It further guarantees that the payment date for subsequent maturities will be communicated in the expected time “as the process continues”.
It thanked all stakeholders for their “patience during the Domestic Debt Exchange Program (DDEP) and the subsequent administrative process”.
Read the Full Story
Advertise Here contact advertisement[@]ghheadlines.com