PRESS RELEASE

November 16, 2015

Subject: Grenada Announces Successful Closing of Exchange Offer

                      The Government of Grenada announced the formal closing of the exchange offer involving its U.S. Dollar Bonds due 2025 and its E.C. Dollar Bonds due 2025 on November 12, 2015.

                      Tenders representing 94 percent of the country’s U.S. Dollar Bonds due 2025 and 100 percent of E.C. Dollar Bonds due 2025 outstanding and eligible to vote in the exchange were received by the expiration date of the offer.  Consistent with the collective action clause in the original bonds, however, the entirety of those bonds has been exchanged for new Grenada U.S. Dollar and E.C. Dollar Bonds due 2030 (the “2030 Bonds”).

                      The 2030 Bonds issued by Grenada as part of the exchange have 29 equal repayments of principal, with the first payment due on May 12, 2016.

                      White Oak Advisory LTD acted as the financial advisor, and Cleary Gottlieb Steen & Hamilton LLP acted as the legal advisor, to the Government of Grenada in this transaction. 

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Questions regarding this press release may be directed to Natasha Marquez-Sylvester, on +1 473 435 8915 or at This email address is being protected from spambots. You need JavaScript enabled to view it..