Belize....schon wieder ein Swap mit Einbussen

PRESS RELEASE FOR IMMEDIATE RELEASE
March 8, 2013
Belize Debt Exchange Offer Successful
Belmopan, Belize: The Government of Belize announced
today that holders of 86.17 percent of the country's U.S. Dollar Bonds due
2029 (the “2029 Bonds”) had tendered their bonds in response to Belize's
February 15, 2013 offer to exchange those instruments for new Belize U.S.
Dollar Bonds due 2038 (the “2038 Bonds”). Belize's offer required tenders
to be submitted to Citibank, in its capacity as the Exchange Agent for the
transaction, by 5:00pm (New York time) today.
Under the terms of the 2029 Bonds and Belize's exchange
offer, holders of not less than 75 percent of the 2029 Bonds have instructed
the Trustee for those instruments to tender the entirety of the 2029 Bonds in
exchange for 2038 Bonds in accordance with the terms of Belize's offer.
The results of the tender process that ended today means that such an
exchange of the entirety of the 2029 Bonds is expected to take place at a
closing of the transaction later this month.
* * * *
Questions regarding this press release may be directed to
Joseph Waight, Financial Secretary (+501 822 0367);
(financial.secretary@mof.gov.bz)