El Salvador President, Bukele Launches Offer for External Debt Repurchase

El Salvador’s President Nayib Bukele announced on X (formerly Twitter) on Monday evening that the country has officially launched the purchase offer for the external debt due from 2025 to 2029.

“Today we have officially launched the purchase offer for our external debt due from 2025 to 2029.  All holders of bonds of the Republic of El Salvador can access this public and voluntary repurchase,” Mr Bukele posted, notifying of El Salvador’s decision.

The announcement came a day after Bukele announced his plan to offer 5,000 free passports, with voting rights, to highly skilled migrants from abroad in fields such as engineering, artists, doctors, and philosophers.

Today we have officially launched the purchase offer for our external debt due from 2025 to 2029 🇸🇻

All holders of bonds of the Republic of El Salvador can access this public and voluntary repurchase.

More information here:https://t.co/LSXxN7cZjX

— Nayib Bukele (@nayibbukele) April 8, 2024

In furtherance to the notification, Bukele added a link indicating El Salvador’s in-depth provision to the effect, urging all bondholders to access the “public and voluntary repurchase” for external debt due from 2025 to 2029.

The report noted, “The Republic reserves the absolute right to amend or terminate the offer in its sole discretion, subject to disclosure and other requirements as required by applicable law”.

Meanwhile, the screenshot above shows the financial terms for the invitation, as El Salvador invites holders to tender its 2025, 2027, and 2029 notes for cash.

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Mayowa Durosinmi

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Mayowa Durosinmi is a Nigerian investigative reporter for West Africa Weekly with reports focusing on politics, human rights, security and health in West Africa and the Sahel region.

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