Friday, May 24, 2019

New securities will be issued Nov 15

New securities will be issued Nov 15
02 Nov

The Central Bank of Barbados advised that the restructured securities under government's new debt offer, will be issued on November 15th, 2018.

The Bank explained that technical and data issues had delayed the process, and expressed regret about not meeting the original October 31st deadline.

A statement from the Bank said they are working assiduously to complete the process by mid-November.

Meanwhile, Bank officials also reminded investors that they will be receiving e-statements, and not physical certificates, for the new instruments.

In all, some 97 per cent of the participants in the debt swap, accepted the new offer, which includes a reduction in interest rates, an extension of maturities, and selective principal reductions.