RBTT to bail out GOB! US $100 Million Bond.
Posted September 3rd 2004 1:44pm
After begging and pleading, RBTT will bail out Belize and issue a Non-callable Fixed Rate Bond to refinance debt of the GOB in addition to the mortgage securitizations of the Development Finance Corporation in Belize. The issue amount will be for 100 Million US dollar at 9.95% interest for 10 years.
According to GOB US $65 Million will be used for DFC and the remaining US $35 Million will be used for Capital Expenditure.
Information has also revealed that GOB is currently in negotiation with other parties to secure additional bail out funds. And they are trying to quickly issue this $100 Million dollar bond so as other deals can be successful.
Have a look at the bond terms and agreement by click here (http://flyservers.registerfly.com/members5/freebelize.org/rbtt100.html