Official Creditor Committee says Ethiopia’s AIP for US$1bn 2024 eurobond complies with comparability
On 31 July 2026 the Official Creditor Committee (OCC) informed Ethiopia that the June 29, 2026 agreement in principle (AIP) to restructure the US$1bn 6.625% Notes due 2024 is, “at this stage,” compliant with the Common Framework principle of comparability of treatment, clearing a key procedural hurdle to implementing the exchange.
The desk brief
On 31 July 2026 the Official Creditor Committee (OCC) informed Ethiopia that the June 29, 2026 agreement in principle (AIP) to restructure the US$1bn 6.625% Notes due 2024 is, “at this stage,” compliant with the Common Framework principle of comparability of treatment, clearing a key procedural hurdle to implementing the exchange.
The OCC’s positive comparability assessment reduces a principal official-creditor objection that had blocked implementation, allowing Ethiopia to finalise non-financial exchange documentation and seek bondholder consent. The outcome is conditional: the OCC flagged risks around a New Money Warrant and said it will monitor implementation and could adjust official terms if the warrant grants excessive benefits to bondholders.
Finalise non-financial exchange documentation with the Ad Hoc Committee and secure bondholder approval for the exchange.
Sources & verification
Verified briefSupported by 3 independent publishers.
- Ethiopia announces favourable Comparability of Treatment assessment of Official Creditor Committee regarding agreed terms of Eurobond restructuringmofed.gov.et (opens in a new tab)
- Official creditors back Ethiopia bond restructuring, flag risks in warrant | CNBC Africacnbc.comSource published (opens in a new tab)
- Official creditors clear Ethiopia’s revised Eurobond restructuring termsaddismizan.comSource published (opens in a new tab)
Public references supporting this brief.