Suriname Creditor Committee Announces Formation

Suriname Creditor Committee Announces Formation

14-11-2020

LONDON, BOSTON and NEW YORK, November 4, 2020 – A representative group of institutional holders of
Eurodollar bonds due 2023 and 2026 (collectively, the “Eurobonds”) issued by the Republic of Suriname
(“Suriname”) has come together to form a creditor committee (the “Committee”) in response to the announcement
by Suriname that it has elected to take advantage of the 30-day grace period on the coupon payment that was due
on October 26, 2020 on the 2026 Eurobonds, and that it intends to seek a payment deferral on its foreign currencydenominated debt in the short term. Members of the Committee include the following asset managers (acting either
directly or on behalf of funds they manage): Franklin Templeton Investment Management Limited, Eaton Vance
Management, Grantham, Mayo, Van Otterloo & Co. LLC, and Greylock Capital Management, LLC.


The Committee welcomes a dialogue with the administration of newly-elected President Chandrikapersad Santokhi,
and acknowledges the initial actions that have been taken by the authorities in an effort to counter the economic
headwinds facing the country along with the impact of the COVID-19 pandemic. The Committee has organized to
engage with Suriname regarding its present situation and to facilitate communication among creditors.
Representatives of the Committee attended the investor presentation that was convened by Suriname on October
30, 2020.


Members of the Committee believe that any future interactions with Suriname should be conducted in a manner
consistent with the G20-endorsed Principles for Stable Capital Flows and Fair Debt Restructuring, which include
transparency and timely flow of information, open dialogue, good faith actions, and fair treatment among creditor
classes. The Committee also recognizes that Suriname is in the process of engaging with the IMF and other
International Financial institutions, and encourages the authorities to pursue such engagement in an open and
transparent manner that includes the active participation of all stakeholders.


The Committee intends to constitute itself as a Holder’s Committee under the terms and conditions of the
Eurobonds, and is being advised by Newstate Partners LLP. Holders of Eurobonds interested in receiving more
information may contact:
Rafael Molina, Newstate Partners LLP, +44 20 3077 4911 or rmolina@newstatepartners.com
Spencer Jones, Newstate Partners LLP, +44 20 3077 4916 or sjones@newstatepartners.com