Belize Announces Successful Results of Its Offer to Bondholders and Extends the Expiration Time

BELMOPAN,A Belize, Sept. 24, 2021 /PRNewswire/ --A The Government of Belize (the "Government") announced that, as of the date hereof, it has received Tender Orders for its Offer, as set forth in the offer to purchase and consent solicitation statement, dated September 13, 2021 (the "Statement"), equal to approximately 84.38% of the aggregate principal amount of the outstanding Bonds.A  Capitalized terms used and not defined herein shall have the respective meanings set forth in the Statement. "The Government of Belize is delighted that the vast majority of holders of the Government's only international bond have indicated their support for this proposed transaction," said Belize's Prime Minister, John BriceA±o.A  "We are attempting to achieve, in this one transaction, both significant debt relief and the long-term protection of Belize's precious marine environment."As a result of receiving these Tender Orders, the Super-Majority Consent Condition described in the Statement has been satisfied.A  However, the Offer and Exit Amendments set forth in the Statement remain subject to the satisfaction of the Financing Condition and General Conditions described in the Statement.A  In order to provide Holders of Bonds that have not yet tendered an additional opportunity to submit Tender Orders, the Government hereby extends the Expiration Time for the Offer to October 15, 2021 at 5 p.m.New York City time (unless further extended by the Government in its sole discretion pursuant to the terms of the Statement).A  Any Eligible Holder who tenders Bonds after the date hereof but prior to the Expiration Time (as extended) will be eligible to receive the Purchase Price and the Contingency Account Distribution on the Settlement Date, but, because the Consent Deadline is not being extended, such tendering Holders will not be eligible to receive the Accrued Interest Payment. As previously announced, if the Indenture is amended as proposed in the Statement, any Bonds that are not validly tendered prior to the Expiration Time will be redeemed and cancelled on the Redemption Date, which will be the Settlement Date.A  Holders of such redeemed Bonds as of the Redemption Date will be entitled only to the Redemption Price (which is equal to the Purchase Price) and the Contingency Account Distribution.A  Holders of redeemed Bonds will not be entitled to receive any accrued and unpaid interest or any other additional amount.In order for a Holder of redeemed Bonds to receive the Redemption Price and the Contingency Account Distribution, the applicable DTC Participant will be required to deliver a Redemption Certification Form representing, among other things, that such Holder was the beneficial owner of the applicable redeemed Bonds as of the Redemption Date.A  For the avoidance of doubt, as a result, such redeemed Bonds will become non-transferrable as of the Redemption Date.A  The Exit Amendments are hereby revised to the extent necessary to reflect the foregoing terms applicable to Bonds that are not tendered prior to the Expiration Time.A  Copies of the revised Exit Amendments will be made available upon request by the Information and Tender Agent and will be posted on the website of the Central Bank of Belize at
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