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zerohedge.com
Belize unable to make bond payment due today!!! (8/20/2012) Belize will miss a coupon payment on about $544 million of bonds and is unlikely to pay creditors during a 30-day grace period that starts today, Finance Secretary Joseph Waight said. The Central American nation, which owes investors about $23 million today, can’t make the payment, Waight said in a phone interview from Belmopan City. The government has been in talks with debt [...] Belize will miss a coupon payment on about $544 million of bonds and is unlikely to pay creditors during a 30-day grace period that starts today, Finance Secretary Joseph Waight said. The Central American nation, which owes investors about $23 million today, can’t make the payment, Waight said in a phone interview from Belmopan City. The government has been in talks with debt holders about a restructuring, its second since 2007. “We [...] The 3 Greek parties didnt approve repayment of a €436m bond due on Tuesday. If no payment occurs there is a 30 day grace period before default
via CNBC:
As if the Greek situation wasn’t messy enough, a missing paragraph from a key legal document is throwing a wrench into a debt deadline. Greece has a 436 million euro principal repayment due Tuesday. So far, the country has not decided what to do. Under normal Greek-debt [...] by Simone Foxman Markets have been relatively calm recently after some unprecedented actions by the European Central Bank and headlines appearing to confirm that Greece is likely to get its second bailout. However, that second point is still arguable—and will likely be decided on March 12. That’s the deadline for private sector bondholders to register to take part in the bond swap deal, determining the level of participation and whether or not Greece will go through [...] The storyline here sounds correct to me: the €14.5 billion bond is due on March 20, but supposedly one can push the default by another week to March 27. Therefore the weekend starting March 23 is the optimal time to pull the plug and put in place capital controls in Greece. The narrative on the negotiations also appears to be credibly described. I fully expect Greece to hard default, and it not [...] |
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