Gesamtzahl der Seitenaufrufe

Sonntag, 5. Mai 2013

Grenada's 2025 U.S. dollar-denominated bond is currently showing bid/ask price spread of 34.00/36.00 with a yield of 24.328 percent, according to Thomson Reuters data.


Grenada's 2025 U.S. dollar-denominated bond is currently showing bid/ask price spread of 34.00/36.00 with a yield of 24.328 percent, according to Thomson Reuters data.


Grenada bondholders form committee after missed coupon payment

5/3/2013COMMENTS (0)
By Daniel Bases
NEW YORK (Reuters) - Bondholders of Grenadian sovereign debt announced on Friday they formed a committee to address the Caribbean nation's decision to restructure its public debt that resulted in the government's missing a coupon payment in March.
Financial advisor BroadSpan Capital issued a press release stating that "holders of more than 75 percent" of the U.S. dollar-denominated and East Caribbean dollar-denominated bonds formed a steering committee and a broader ad-hoc bondholders' committee to raise their concerns with the government.
The Grenada government, in March, said it did not have the resources to make coupon payment on the U.S. dollar-denominated bond that matures in 2025, Thomson Reuters IFR reported on March 11. The payment was due on March 15 and no payment was made within the 30 day grace period, "and the bonds are now in default," BroadSpan said in Friday's statement.
Standard & Poor's, on March 12, lowered its sovereign credit rating for Grenada to SD, or Selective Default, from CCC-minus, citing the government's decision.
At the time, S&P said Grenada did not expect to have the funds the pay the coupon during the grace period.
"The Committee took note of the GOG's (Government of Grenada) stated commitment to a comprehensive and collaborative process, and believes that any request for support from commercial creditors should be matched not only by support from multilateral and bilateral lenders, but also by sound policy measures on the part of the GOG," BroadSpan's Mike Gerrard said in the statement.
IFR, citing a prior government statement, reported that last year Grenada was forced to use the grace period to buy some time to make another payment. At the time it borrowed $4.4 million from a local source on a short-term basis, IFR said.
Coupons on the 2025 jumped from 2.5 percent to 4.5 percent in September 2011 and will step up again to 6 percent in September this year. The coupon will increase in 2015 and 2017, and hit a peak of 9 percent in 2018, IFR reported.
The committee's statement said it has asked the government to confirm its willingness to directly pay for reasonable fees and expenses incurred during the negotiations, including fees related to financial and legal advisors as well as out-of-pocket expenses.
Grenada's 2025 U.S. dollar-denominated bond is currently showing bid/ask price spread of 34.00/36.00 with a yield of 24.328 percent, according to Thomson Reuters data.
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Grenada's 2025 U.S. dollar-denominated bond is currently showing bid/ask price spread of 34.00/36.00 with a yield of 24.328 percent, according to Thomson Reuters data.


Grenada's 2025 U.S. dollar-denominated bond is currently showing bid/ask price spread of 34.00/36.00 with a yield of 24.328 percent, according to Thomson Reuters data.


Grenada bondholders form committee after missed coupon payment

5/3/2013COMMENTS (0)
By Daniel Bases
NEW YORK (Reuters) - Bondholders of Grenadian sovereign debt announced on Friday they formed a committee to address the Caribbean nation's decision to restructure its public debt that resulted in the government's missing a coupon payment in March.
Financial advisor BroadSpan Capital issued a press release stating that "holders of more than 75 percent" of the U.S. dollar-denominated and East Caribbean dollar-denominated bonds formed a steering committee and a broader ad-hoc bondholders' committee to raise their concerns with the government.
The Grenada government, in March, said it did not have the resources to make coupon payment on the U.S. dollar-denominated bond that matures in 2025, Thomson Reuters IFR reported on March 11. The payment was due on March 15 and no payment was made within the 30 day grace period, "and the bonds are now in default," BroadSpan said in Friday's statement.
Standard & Poor's, on March 12, lowered its sovereign credit rating for Grenada to SD, or Selective Default, from CCC-minus, citing the government's decision.
At the time, S&P said Grenada did not expect to have the funds the pay the coupon during the grace period.
"The Committee took note of the GOG's (Government of Grenada) stated commitment to a comprehensive and collaborative process, and believes that any request for support from commercial creditors should be matched not only by support from multilateral and bilateral lenders, but also by sound policy measures on the part of the GOG," BroadSpan's Mike Gerrard said in the statement.
IFR, citing a prior government statement, reported that last year Grenada was forced to use the grace period to buy some time to make another payment. At the time it borrowed $4.4 million from a local source on a short-term basis, IFR said.
Coupons on the 2025 jumped from 2.5 percent to 4.5 percent in September 2011 and will step up again to 6 percent in September this year. The coupon will increase in 2015 and 2017, and hit a peak of 9 percent in 2018, IFR reported.
The committee's statement said it has asked the government to confirm its willingness to directly pay for reasonable fees and expenses incurred during the negotiations, including fees related to financial and legal advisors as well as out-of-pocket expenses.
Grenada's 2025 U.S. dollar-denominated bond is currently showing bid/ask price spread of 34.00/36.00 with a yield of 24.328 percent, according to Thomson Reuters data.
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Dienstag, 23. April 2013

Belize Bonduniversum....


Anzahl der Instrumente (Sekundärmarkt): 9
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9.5 Belize 12 Nts-SStraight bondBEBUSD909.08.12
6 Belize15 Reg SFloating Rate NoteXTRUSD5208.03.12
Belize Sov 15 FRNFloating Rate NoteXTRUSD10029.03.06
Belize Govt 29 SU-SchartFloating Rate NoteXTRUSD6221:10:11
Belize29 SU Nts144AFloating Rate NoteXTRUSD8319.10.12
0 Gov 15 Sr -144AStraight bondXTRUSD10008.10.12
Belize 29 Nts SU-SFloating Rate NoteXTRUSD107.928.03.13
Gov Belize 38 SU -SchartFloating Rate NoteBEBUSD69.613:46:04
Gov Beliz38-144A SUFloating Rate NoteAKRUSD-
 

Mittwoch, 13. März 2013

Grenada 25: EMTA is recommending that flat trading commence on March 13, 2013


As you may be aware, Grenada announced on March 8, 2013 that it will begin discussions with its creditors regarding a restructuring of its public debt, and confirmed that it will not have the resources to pay the interest payments on its 2025 bonds due on March 15 (nor does it expect to have the funds to do so within the relevant grace period). EMTA Members may access the full text of the Press Release by Clicking Hereor you may copy and paste the following link into your internet browser:http://www.emta.org/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=7948
Accordingly, after consultations with major market participants, EMTA is recommending that flat trading commence on March 13, 2013 (unless otherwise agreed). EMTA Members may access the full text of the Market Practice recommendation by Clicking Here;or you may copy and paste the following link into your internet browser: http://www.emta.org/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=7952
EMTA offers a wide range of Emerging Markets information. Please see our website at: http://www.emta.org


This e-mail was sent from EMTA, Trade Association For The Emerging Markets (eramirez@emta.org) to rolfjkoch@web.de.

Ranking des Grenada 12 // sanfte pari passu clause ?


Ranking
The notes will be general, direct, unconditional, unsubordinated and unsecured obligations of the
Government and will be backed by the full faith and credit of the Government. The notes will be Public
External Debt of the Government. The notes will rank equally among themselves and with all other
existing and future unsubordinated and unsecured Public External Debt of the Government.

Dienstag, 12. März 2013

Grenada 9.375 Grena12 Nts-S USP48863AA55 // ein pari passu play in New York ?


Guten Morgen Herr Koch
Gemäss Bondhandel stellt JP Morgen für eine Million USD folgende Preise; Bid 31 / Ask 54 (indikativ)
Bitte teilen Sie mir mit, ob ich einen Kaufauftrag im Markt platzieren soll.
Danke und einen guten Tag.
Freundliche Grüsse


ISIN:USP48863AA55
NSIN:AT: 860920
CH: 1442330
Common: 015049251
DE: 860920
GB: 2962551
US: P48863AA5

Montag, 11. März 2013

Belize....schon wieder ein swap mit Einbussen...


PRESS RELEASE FOR IMMEDIATE RELEASE
March 8, 2013
Belize Debt Exchange Offer Successful
Belmopan, Belize: The Government of Belize announced
today that holders of 86.17 percent of the country's U.S. Dollar Bonds due
2029 (the “2029 Bonds”) had tendered their bonds in response to Belize's
February 15, 2013 offer to exchange those instruments for new Belize U.S.
Dollar Bonds due 2038 (the “2038 Bonds”). Belize's offer required tenders
to be submitted to Citibank, in its capacity as the Exchange Agent for the
transaction, by 5:00pm (New York time) today.
Under the terms of the 2029 Bonds and Belize's exchange
offer, holders of not less than 75 percent of the 2029 Bonds have instructed
the Trustee for those instruments to tender the entirety of the 2029 Bonds in
exchange for 2038 Bonds in accordance with the terms of Belize's offer.
The results of the tender process that ended today means that such an
exchange of the entirety of the 2029 Bonds is expected to take place at a
closing of the transaction later this month.
* * * *
Questions regarding this press release may be directed to
Joseph Waight, Financial Secretary (+501 822 0367);
(financial.secretary@mof.gov.bz)