Zambia and bondholders reach agreement-in-principle to restructure Eurobonds
On Oct. 26, 2023 Zambia and an external bondholder steering committee reached an agreement-in-principle to restructure three Eurobonds (2022, 2024, 2027), reducing near-term external payment burdens; implementation remains conditional on final deal documentation and creditor participation.
The desk brief
On Oct. 26, 2023 Zambia and an external bondholder steering committee reached an agreement-in-principle to restructure three Eurobonds (2022, 2024, 2027), reducing near-term external payment burdens; implementation remains conditional on final deal documentation and creditor participation.
The agreement-in-principle, linked to the IMF programme and World Bank assessment, should lower near-term external debt service obligations and can prompt repricing across Zambia’s short- and medium-term external curves. Final market impact depends on documentation, actual cash-flow relief terms, and whether other commercial creditors accept comparable treatment under the IMF/World Bank parameters.
Finalisation of deal documentation and full implementation; agreement by other commercial creditors on comparable terms.
Sources & verification
Developing storyFurther independent confirmation is required.
- Zambia External Bondholder Steering Committee Reaches Agreement in Principle with Zambia on Debt Restructuringprnewswire.comSource published (opens in a new tab)
- World Bank Group Statement on Debt Restructuring Agreement for Zambiaworldbank.orgSource published (opens in a new tab)
Public references supporting this brief.
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- Zambin 33Jun 203396.1886.460%
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