That government has announced an “administrative extension” of the alternative offer of the domestic dollar bonds and pension funds to August 25, 2023.

The alternative offers had earlier closed on August 4, 2023, despite indications by the Ministry of Finance that participation reached approximately 91%.

However, in a statement issued today, Tuesday, August 21, 2023, the Ministry stated the administrative extension, “will allow holders who have not tendered additional time to secure internal approvals to participate in this exchange through this administrative window.”

Below is the new schedule for the offer:

1. Expiration Date:  Friday, 25^th August 2023 at 4:00 p.m. (GMT) (the “New Expiration Date”).
2. Announcement Date: On or about Monday, 28^th August 2023.
3. Settlement Date: Expected Friday, 1^st September 2023, or as soon as practicable thereafter.
4. Longstop Date: Monday, September 4, 2023, unless further extended by the Republic pursuant to the Invitation.

Source: citibusinessnews.com