Please wait, loading...


Eurobond holders planning to reject Zambia’s request on November 13

November 4, 2020by Nicholas Kabaso0

Holders of Zambia’s Eurobonds are reportedly planning to reject the government’s request for a 6-month interest payment holiday on No-vember 13.  According to sources familiar with the matter, the Zambia External Bondholder Committee holding more than 40% across all Zam-bia’ bonds and a blocking stake issue indicated that they were likely to reject the government’s request. Moreover creditors noted that the government had not contacted them ahead of the launching of the consent solicitation and had thus far not presented a convincing plan to make its debt sustainable. Given November 13 is the cut-off for the grace period, creditors are expected in all likelihood to vote against the re-quest this time around and this could push Zambia one step closer to a debt default.

Nicholas Kabaso

Leave a Reply

Your email address will not be published. Required fields are marked *

ABC Unit Trust Head Office
Pioneers of Unit Trusts in Zambia.
Corner of Nasser/Church Roads,
Post box 37107, Lusaka, Zambia
ABC Unit Trust Contact Details
Contact the Pioneers of Unit Trusts in Zambia.
GET IN TOUCHABC Unit trust Social links
Talk to us
ABC Unit TrustHead Office
Pioneers of Unit Trusts in Zambia.
ABC Unit TrustContact Details
Pioneers of Unit Trusts in Zambia
Pioneers of Unit Trusts in Zambia

Copyright by ABC Asset Management. All rights reserved.