Grenada adds warrants to restructuring

摘要

Grenada took an innovative approach last week as it reached a restructuring deal with bond creditors that includes a two-phase haircut and special warrants related to the tiny Caribbean island's citizenship-by investment programme. The deal, which covers some US$262m of international and local bonds on which the island defaulted in early 2013, ends lengthy negotiations with creditors, who will take a 50% loss on the face value of their holdings.