Key Facts
—The deal. Suriname finished restructuring about $2.4 billion of external debt, the first sovereign bond restructuring completed after the pandemic.
—The novelty. It added a value recovery instrument, the first ever in a sovereign deal, that pays bondholders extra from future oil revenue.
—The relief. The restructuring cut debt-service payments by about $972 million across 2020 to 2026, buying the country breathing room.
—The trigger. The oil payout hinges on the TotalEnergies-led GranMorgu field, whose first oil is due in 2028.
