Francisco Industries, Inc. (FRAZ)

[deet49]

RECAP: Debt Traded @3-8 Cents on $Dollar

Cuba's commercial debt, issued by European banks in the '80s, has traded at 6 to 8 cents on the dollar for much of the last 10 years. Deals like this are now without precedent. Liberian debt traded for 3 cents on the dollar in the 1990s, and creditors eventually received 21 cents on the dollar in a 2008 deal. Creditors told CNBC in 2015 they believed the debt would be settled at 27 to 49 cents on the dollar.

The Paris Club announced an additional 14 countries, mostly European, had agreed to massive debt forgiveness for the island. Cuba owed those countries roughly $11.1 billion in debt, including past due interest. The amount was written down to only $2.5 billion.
( DEAL @ <0.22 Cents on the dollar )

https://www.cnbc.com/2018/02/09/cuba-faces-its-next-financial-challenge-1-billion-in-commercial-debt.html
Michelle Caruso-Cabrera | @MCaruso_Cabrera
Published 21 Hours Ago Updated 15 Hours Ago
CNBC.com