A significant number of bondholders who participated in the Eurobond Debt Exchange Programme opted for the disco menu of new notes.
This means that the investors will take 37 percent haircut and receive interest payments of 5 percent from 2024 to July 2028, and 6 percent interest thereafter.
They are therefore expected to receive three new bond instruments.
On the other hand the rest of the bondholders opted for the par menu, which will result in them not facing any nominal losses but will bet 1.5 percent interest on the new bonds maturing in January 2037.
These details were captured in the consent document issued by the bondholders after they agreed to swap their old bonds for new papers during the Eurobond Debt Exchange Programme.
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