The repurchase offer will be in force from Monday until April 15, according to the note published by Bukele.
El Salvador’s president, Nayib Bukele, on Monday launched an offer to repurchase the country’s sovereign debt due between 2025 and 2029, for about $1.75 billion.
“Today we have launched the offer to repurchase our foreign debt, which matures from 2025 to 2029,” the president wrote on his account on the social network X.
“Everyone who owns bonds from the Republic of El Salvador can access this public and voluntary repurchase,” he added.
The repurchase offer will be in force from Monday until April 15, according to the note published by Bukele.
He says El Salvador launched “an invitation for each holder to submit offers to exchange bonds for cash.” For the accepted offers, the country will pay “the accrued interest and any premiums relative to these bonds.”
The amount of bonds due to 2025 is about $348 million, $2027 from $800 million and those of $2029 of $601 million. There is no expiration in 2026.
According to the Central Reserve Bank, El Salvador’s public debt amounted to the end of 2023 to $34,015 million, equivalent to 82% of Salvadoran GDP.
Bukele, who was re-elected in February favored by his crusade against the gangs, has promised that in his new five-year term, which will start on June 1, his efforts will be focused on boosting the economy.
This article has been translated from the original which first appeared in Tunota