Zambia postpones crucial bondholder meetings on debt relief
The meetings will be reconvened on November 13
Maputo/London — Bondholder meetings to vote on Zambia’s request for debt relief were postponed on Tuesday after failing to reach quorums, increasing pressure on the southern African country to reach agreement with its creditors before it falls into default.
The meetings will be reconvened on November 13, according to a regulatory filing. That is also the deadline to make a coupon payment that Zambia skipped on October 14, before it triggers a default that will give bondholders the right to demand immediate repayment of the principal. Zambia said in September it would not be able to meet obligations without a six-month interest-standstill agreement...
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