Government has extended the deadline for the domestic dollar bonds to Friday, August 18, 2023.
The bonds were originally scheduled to end on August 4, 2023.
The government is seeking to exchange approximately $809 million.
“In response to feedback received from eligible holders for more time to secure internal approvals to participate, the government announces its extension for the invitation to exchange the bonds to August 18, 2023”, a statement from the Ministry of Finance said.
The statement added that the announcement date will be on or about August 21, 2023, while the settlement date is expected on August 25, 2023, or as soon as practicable.
“The issue date, interest accrual schedules, payment schedules and amortatisation schedules for the new bonds will be adjusted to reflect the actual settlement date”, the statement said.
COCOBOD bonds offer period extended
In a separate release by CAL Bank, COCOBOD has also extended the offer period for its debt exchange from August 4, 2023 to August 18, 2023.
“We urge all persons who intend to participate in the Exchange Programme to endeavour to submit their applications by 4pm on 18 August 2023,” the statement said.
It added that an offer cannot be revoked or withdrawn at any time except in the limited circumstances described in the Exchange Memorandum.
“All other dates in the transaction timetable as outlined in the Exchange Memorandum remain unaffected and unchanged unless otherwise varied by COCOBOD (in its sole discretion and with the prior approval of the Securities and Exchange Commission)”, it said.