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 of Finance on Tuesday, March 14 said the processes began on Monday, March 13.
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: “The initial instruction covers coupon and principal payments on bonds that matured on 6th February, 2023 and 13th February, 2023.
“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 forbearance during the Domestic Debt Exchange Programme (DDEP) and subsequent administrative processes”.