Zambia Opens Talks After Bondholders Block $1.36 Billion Debt Buyback

2 articles · Updated · Bloomberg · Jun 3

$1.36 billion in bonds are now at the center of confidential talks after investors blocked Zambia’s tender offer to repurchase the debt.
Non-disclosure agreements could be signed soon, clearing the way for formal negotiations between the government and the bondholder group, according to people familiar with the matter.
The buyback was launched last week to retire the bond before a potentially costly coupon step-up took effect.
The shift from a market tender to direct negotiations underscores Zambia’s need to manage debt-service costs while navigating creditor resistance.