Banco Central de Cuba to ask bondholders to extend series A maturity

By Lisa Kerner

Charlotte, N.C., June 29 - Banco Central de Cuba bondholders will be asked to vote on extending the maturity of a series A bond at a meeting on July 2 at the Banco de Inversiones SA head office.

Holders will vote on the adoption of a resolution extending the maturity of the €71 million 9% bonds due 2010 until June 25, 2013 for 90% of bondholders' participation under the series A bonds.

The €72 million 9.25% bonds (series B bonds) mature on June 25, 2011, and the €72 million 9.25% bonds (series C bonds) mature on June 25, 2012.

Banco Central will redeem 10% of the principal rounded to the lowest denomination of the series A bonds together with the coupon payment for series A, B and C.

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