Friday, 23 September 2022 15:29

US$565.6 million repurchase of 2023-2025 bonds already deposited to bondholders

Written by Evelyn Alas

The minister of Finance, Alejandro Zelaya, informed through his twitter account that the early purchase operation has been completed, the payment of the US$565.6 million in bonds, which El Salvador repurchased, has been deposited to the bondholders according to the terms of the invitation.

Zelaya emphasized that El Salvador saved more than US$275 million by carrying out this historic operation.

The official reiterated his gratitude to the investors, and to all the technical team involved in the operation. He also said that more news on the liability management strategy will be forthcoming.

Yesterday, the President of the Republic of El Salvador, Nayib Bukele, also informed that this administration has repurchased more than half of the US$800 million foreign debt bond issued by the government of Mauricio Funes, which is due to be paid in full in 2025.

He explained that they have begun to pay the US$800 million bond issued by the government of Francisco Flores (due to be paid in 2023).

According to a media outlet, the settlement of the validly tendered and accepted bonds is scheduled for september 22, 2022 or thereabouts, subject to the terms and conditions set forth in the Invitation.