Wednesday, 25 January 2023 15:33

El Salvador honors its Eurobond debt with US$604 million

Written by Coralia Cuellar // Evelyn Alas

The President of the Republic, Nayib Bukele, announced on his Twitter account that tonight he complied with the pending payment of the debt, honoring the US$604 million in Eurobonds that were still owed to the first holders.

In november 2022, the President announced for the second time an offer to its sovereign debt holders to repurchase issues maturing in 2023 and 2025, which were placed by two previous governments, for US$1.6 billion.

In the first operation, in september of last year, it acquired US$565 million, leaving US$1.035 billion remaining in those two debt bonds. Each issue, maturing in 2023 and the 2025 issue, of US$800 million.

Eurobonds are when states borrow money, and in a document called a Eurobond they commit to repay the loan with interest within an agreed term.


Translated by: A.M