haircut

Finance Minister, Ken Ofori-Atta, has stated that Eurobond holders may face a nominal haircut of between 30% and 40% as part of the restructuring of the external debt. According to him, coupons may also not exceed 5% with final maturities of not more than 20 years. “So in our indicative scenario, the restructuring terms for bondholders involve maybe a nominal haircut between 30 and 40%, looking at maybe coupons of not more than 5% and final maturities of not more than 20 years are sort of the contours of what we are discussing and analyzing”. Updating investors about the state…