11.25.09

AfDB ends mission on new bonds

Posted in Diplomatic missions, International relations at 3:19 pm by Robert Klien

A team from the African Development Bank (AfDB) has recently ended a 2-day visit to Seychelles. The visit was aimed at discussing new bonds to be issued.

Advance talks have been held by the mission with the authorities. The talks regarded request for a partial guarantee to be attached to the new bonds. These will result from Seychelles’ forthcoming external debt exchange offer. As part of this offer, holders of eligible claims will be invited to tender their instruments for new bonds – these are holders who will include the 9.125% Eurobond due in 2011.

The AfDB is expected to complete its review of the partial guarantee proposal in the next few weeks. The government intends to launch the exchange offer shortly.

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