Ethiopia Bondholders Reach Agreement-in-Principle on Restructuring of Defaulted 2024 Notes
The Ad Hoc Bondholder Committee representing approximately 45% of Ethiopia's defaulted $6.625 billion notes due in 2024 has reached an agreement-in-principle with the country to restructure its debt. The deal includes a new $880 million bond maturing in July 2029 and a New Money Warrant allowing holders future subscription rights, supporting Ethiopia's economic recovery under its IMF program.