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Suriname: Suriname extends deadline for Oppenheimer bonds

Suriname has extended the period for permission to defer payment of the two Oppenheimer bonds. The deadline for bondholders to approve the deferral request is now April 8 at 5:00 p.m. New York time. This extension of the deferment period gives Suriname more time to reach agreement with the International Monetary Fund (IMF) and to conduct orderly negotiations with external creditors. This process is necessary for a sustainable and comprehensive approach to Suriname’s enormous external debt.

Suriname has applied for the extension in coordination with the representative committee of bondholders of the Oppenheimer bonds. The Commission has stated that it recognizes Suriname’s commitment and appreciates its cooperative attitude.

Suriname has responded to many requests from the Commission in recent days, including: providing access to certain macro-fiscal data and forecasts to the Commission, providing information to the Commission regarding future oil and gas revenues and reaffirming the Suriname’s intention not to conclude an agreement with the IMF without taking into account the input of the Commission.

The intention of the extension is to give members of the Commission and other bondholders extra time, also in the context of additional information provision by Suriname. In addition, bondholders need time to account for their consent, if any, through their custodians and clearing organizations. All other terms and conditions of the consent requests remain unaffected.

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