Zambia in talks with bondholders as it seeks interest-payment freeze
Assurances from the finance minister that the country will not default on payments have not eased fears
Lusaka — Zambia has started talks with its bondholders a day after an investor committee rejected the country’s request for an interest-payment standstill, saying it needed more information on restructuring plans.
Dialogue has commenced between representatives of some of the Eurobond holders and Lazard Freres and White & Case, which are advising Zambia’s government, according to two people familiar with the matter, who asked not to be identified as the talks are sensitive. While Zambia’s finance minister addressed creditors in a webcast on September 29, he didn’t allow questions, making this the first discussion with Eurobond holders since they formed a committee in June...
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