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All eyes on Euro bondholders  vote

November 13, 2020by Nicholas Kabaso0

Front and centre of domestic financial markets today will be on the Eurobond holders vote on Zambia’s request for an interest payment holiday. Recent rhetoric suggests that the Eurobond holders are set to vote against Zambia’s request today, citing Zambia’s lack of progress in talks with the International Monetary Fund and poor transparency regarding its borrowing from China. It is worth noting that the vote coincides with the cut-off date for the grace period for missing a coupon payment on one of its Eurobonds. A failure to meet its debt obligation and a vote against Zambia’s request could trigger a default event.

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Nicholas Kabaso

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