ZAMBIA LAUNCHES EUROBONDS CONSENT SOLICITATION
Zambia has launched a consent solicitation for its Eurobonds.
This is in respect to its three bonds due in 2022, 2024 and 2027.
The consent solicitation is the next step in Zambia’s debt restructuring with the Eurobond holders following the Agreement in Principle reached by Zambia and the Steering Committee of the Ad Hoc Creditor Committee on the key commercial terms of a proposed restructuring transaction.
This is according to the announcement issued by Ministry of Finance Secretary to the Treasury FELIX NKULUKUSA obtained by ZNBC.
A consent solicitation is a process that involves reaching out to bondholders or shareholders to obtain their explicit consent for the proposed changes.