Shearman And Sterling

News March 21, 2017

Shearman & Sterling Advises on Consent Solicitation for Belize

Shearman & Sterling represented Citigroup Global Markets Inc. as consent solicitation agent in connection with the solicitation of consents by Belize to amend terms of the $526.5 million outstanding amount of its US dollar bonds due 2038.  Under the amended terms of the bonds, the interest rate, currently 5.000% per annum and scheduled to step up on August 20, 2017 to 6.767% per annum, will be fixed through maturity at 4.9375% per annum.  The amended terms also include, among other changes, a new amortization structure and a final maturity date now set at 2034.

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