Zambia's government on Thursday improved the terms of a tender offer to holders of its $1.36 billion Eurobond maturing in 2053, a regulatory notice showed.
Zambia launched the tender offer on Friday for the bond, which was created two years ago as part of the Southern African nation's debt restructuring and carries fixed interest payments that rise over time.
The notice on the London Stock Exchange said Zambia was increasing the early tender fee by distributing an additional $65 million to holders who validly tender before an early participation deadline.
The early participation deadline was extended from June 5 to 9, and Zambia's finance ministry said the higher fee represented its "best and final" offer.
Post-default restructuring
Zambia also said it would not accept any notes for purchase unless at least 75% of the aggregate nominal amount of the outstanding notes are tendered.
Zambia defaulted on its external debts in 2020. It has completed most of a protracted restructuring exercise under the G20's Common Framework initiative.
