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البلاد
Ethiopia Plans Restructuring of $1B Bonds
Ethiopia has reached a preliminary agreement with its dollar bondholders to restructure its debt valued at one billion dollars, aiming to resolve the default crisis that began at the end of 2023. The pact includes issuing a new bond worth 880 million dollars, to be repaid in installments until 2029, with a 6.15% yield, along with overdue coupon payments and approval fees. The agreement also features an additional financing instrument allowing investors to participate in a future issuance of up to one billion dollars, which has been approved by international bodies including the International Monetary Fund. Following the announcement of the agreement, Ethiopian bonds in the markets increased in value, with expectations that the government will proceed with the deal through a bond exchange offer in the coming months.
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