The Government of Barbados announced today the near-universal participation of affected creditors in the BBD Debt Exchange Offer that was launched on 7 September 2018.
Although the Central Bank of Barbados (CBB) continues to reconcile tenders in its role as exchange agent for the transaction, preliminary estimates indicate that holders of more than 90% of eligible claims have accepted the Government’s restructuring offer.
The Government announced that its exchange offer received the unanimous support of the commercial banks, the general and life and insurers, the National Insurance Scheme (NIS), the CBB, as well the support of almost an entirety of ordinary Barbadians and firms holding claims on the Government and its public sector.
The CBB will provide final participation figures as soon as the reconciliation process has been completed.
Please click here to download the full press release Initial Results of Domestic Debt Restructuring (15 October).