Consent Solicitation

Consent Solicitation

06-04-2021

Press release:

LONDON, BOSTON and NEW YORK, April 6, 2021 – The recognized Creditor Committees (the “Committee”)
formed by a representative group of institutional holders of Eurodollar notes due 2023 and 2026 (collectively, the
“Eurobonds”) issued by the Republic of Suriname (“Suriname”) expressed its support for the Third Consent
Solicitation (the “Third CS”) which requests the deferral of certain payments of principal and interest as well as
other obligations under the Eurobonds. Since the launch of the Third CS on 19 March, the Committee has been
engaging with Suriname to revise the terms of the Third CS to take into consideration bondholder concerns.
The Committee welcomes Suriname’s decision to extend the voting deadline and amend the terms of the Third CS,
which has allowed time for the authorities to make available more data as requested by the Committee. The
Committee recognizes Suriname’s progress in, and commitment to continue, providing such data and the renewed
assurance to take the Committee’s input into account prior to the conclusion of a staff-level agreement with the
IMF. Considering this progress on process and the revision of the Termination Trigger to allow a majority of the
bondholders to rescind the deferrals obtained under the Third CS if bondholders consider that Suriname has not
lived up to its commitments, the Committee is prepared to vote in support of the Third CS.
The Committee reiterates bondholders’ desire to engage with Suriname in good faith discussions to find consensual
solutions to support the implementation of structural reforms to address chronic economic imbalances and
ultimately foster sustainable growth. The Committee underscores the importance of private capital to help Suriname
in its efforts to further develop and manage its offshore oil/gas resources sustainably. As such, solutions to facilitate
a sustainable debt position must be anchored on a credible debt sustainability analysis and the principles of equitable
burden sharing among all creditor categories.
Members of the Committee include the following asset managers (acting either directly or on behalf of funds or
other accounts they manage): Franklin Templeton Investment Management Limited, Eaton Vance Management,
Grantham, Mayo, Van Otterloo & Co. LLC, and Greylock Capital Management, LLC.
The Creditor Committee is being advised by Newstate Partners LLP and Orrick, Herrington & Sutcliffe LLP.
Holders of the Eurobonds and other external commercial debt 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
Thomas Laryea, Orrick, Herrington & Sutcliffe LLP, + 1 (202) 255 8902 or tlaryea@orrick.com