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Belize settles U.S. bond cash tender offer with pivot towards marine conservation By Reuters


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MEXICO CITY (Reuters) – In a swap to bolster marine conservation, Belize mentioned Friday it settled its money tender provide to buy U.S. greenback bonds due in 2034 and redeem all bonds that weren’t tendered into the provide.

Belize financed the acquisition and the redemption of its bonds – an quantity equal to about 12% of its gross home product – with funding from a subsidiary of The Nature Conservancy (TNC) as a part of group’s “blue” bonds program https://www.reuters.com/enterprise/cop/belize-offers-ocean-blue-print-with-debt-for-reef-swap-2021-11-05 to preserve a number of the world’s most weak marine ecosystems.

The settlement of the provide means Belize lowered the principal quantity of its exterior debt by roughly $250 million, the federal government mentioned in a press release.

As a part of the transaction, Belize’s authorities prefunded almost $23.5 million to a marine conservation endowment account devoted to supporting future marine conservation initiatives within the nation.

“Our expectation is that this transaction will pave the best way for robust and long-lasting financial development and permit Belize to realize its marine conservation aims,” Belize’s Prime Minister John Briceno mentioned within the assertion.

The TNC program makes use of personal capital to refinance public debt of collaborating international locations to be able to help marine conservation efforts.

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