Government has assured bondholders who did not subscribe to the Domestic Debt Exchange Programme (DDEP) that processes have begun to “settle payments on outstanding bonds”.
A statement issued by the Ministry on Tuesday afternoon said the processes commenced on Monday, March 13, 2023 and that the initial instruction covers coupon and principal payments on bonds that matured on 6th February, 2023, and 13th February, 2023.
The assurance comes after the aggrieved bondholders raised concerns about the non-payment of matured coupons and principals on the set date despite earlier assurances given in the aftermath of the Programme.
But the Finance Ministry said: “Holders of the afore-listed bonds should therefore expect to receive their payments within the next 48 hours.”
It further assured that payment dates for subsequent maturities will be communicated in due course “as processing continues”.
It expressed gratitude to all stakeholders for their tolerance.
“The Ministry of Finance takes this opportunity to thank all stakeholders for their forbearance during the Domestic Debt Exchange Programme (DDEP) and subsequent administrative processes.”
