2014

Government of Barbados Announces Withdrawal of Tender Offer for up to US$250 million of its 7.25% Notes due 2021 and 7.00% Notes due 2022

BRIDGETOWN, Barbados, Oct. 2, 2013 /PRNewswire/ -- As previously announced, on September 23, 2013, the Government of Barbados (the "Government") commenced a tender offer (the "Tender Offer") to purchase for cash its 7.25% notes due 2021 (the "2021 Notes") and 7.00% notes due 2022 (the "2022 Notes" and, together with the 2021 Notes, the "Outstanding Notes") in an aggregate principal amount not to exceed US$250 million.  The Tender Offer was made pursuant to an Offer to Purchase dated as of September 23, 2013 (the "Offer to Purchase").  The Tender Offer was originally scheduled to expire at 11:59pm on September 30, 2013 and, as previously announced, the Government elected to extend the Tender Offer until 11:59pm on October 1, 2013.  Pursuant to the terms of the Tender Offer, the Government may withdraw the Tender Offer at any time.

The Government has elected to withdraw the Tender Offer and not accept for purchase any Outstanding Notes tendered pursuant to the Tender Offer.

This news release is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.  The Tender Offer was made only pursuant to the Offer to Purchase, copies of which were delivered to holders.

For more information relating to the Tender Offer, holders of Outstanding Notes may contact D.F. King & Co., Inc. at +1 (800) 769-7666 or via e-mail at barbados@dfking.com.  Banks and Brokers may call collect at +1 (212) 269-5550.  

This release may contain "forward-looking statements" – that is, statements that relate to future, not past, events. In this context, forward-looking statements often address the Government's expected future financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain.  The Government assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.

Ministry of Finance and Economic Affairs

The Government of Barbados

 

Mr. Martin Cox

Director of Finance and Economic Affairs (ag)

(246) 426-4274

coxm@gob.bb

Central Bank of Barbados

 

 

Michelle Doyle-Lowe

Director, Research and Economic Analysis Department

(246) 227-8365

Michelle.Doyle-Lowe@centralbank.org.bb

SOURCE Government of Barbados




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