El Salvador Offers To Buy Government Bonds In Advance
El Salvador offers to buy back a portion of its government bonds maturing in 2023 and 2025, the Central American country said on September 12.
In a statement dated September 12, President Nayib Bukele is offering to buy back sovereign foreign debt due in 2023 and 2025.
Accordingly, El Salvador has established a purchase price of $910 for bonds maturing in 2023 and $540 for bonds maturing in 2025. Each bond is worth a total of $800 million.
In July, President Nayib Bukele sent two bills to the National Assembly presenting his plan to pre-purchase debts until 2025. This was seen as an attempt to reassure public opinion, against speculation about El Salvador’s possible default.
Despite Bukele’s announcement in November 2021, El Salvador’s $1 billion Bitcoin bond (also known as the Volcano Bond) has yet to be launched. Paolo Ardoino, CTO of Bitfinex and Tether, who has worked closely with El Salvador on the Bitcoin bond project, stated last month that government officials have told him that passage is expected in September.
El Salvador said the bond repurchase offer will be open between September 12 and September 20, with the “settlement of validly tendered and accepted notes is scheduled to occur on or about September 22.” Deutsche Bank Securities will serve as the dealer manager.
El Salvador further stated that the offer is limited to a total of $360 million to purchase the principal amount of notes accepted for tender and pay accrued interest and any premium on such notes.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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El Salvador Offers To Buy Government Bonds In Advance
El Salvador offers to buy back a portion of its government bonds maturing in 2023 and 2025, the Central American country said on September 12.
In a statement dated September 12, President Nayib Bukele is offering to buy back sovereign foreign debt due in 2023 and 2025.
Accordingly, El Salvador has established a purchase price of $910 for bonds maturing in 2023 and $540 for bonds maturing in 2025. Each bond is worth a total of $800 million.
In July, President Nayib Bukele sent two bills to the National Assembly presenting his plan to pre-purchase debts until 2025. This was seen as an attempt to reassure public opinion, against speculation about El Salvador’s possible default.
Despite Bukele’s announcement in November 2021, El Salvador’s $1 billion Bitcoin bond (also known as the Volcano Bond) has yet to be launched. Paolo Ardoino, CTO of Bitfinex and Tether, who has worked closely with El Salvador on the Bitcoin bond project, stated last month that government officials have told him that passage is expected in September.
El Salvador said the bond repurchase offer will be open between September 12 and September 20, with the “settlement of validly tendered and accepted notes is scheduled to occur on or about September 22.” Deutsche Bank Securities will serve as the dealer manager.
El Salvador further stated that the offer is limited to a total of $360 million to purchase the principal amount of notes accepted for tender and pay accrued interest and any premium on such notes.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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