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Prospect News home > News index > List of issuers S > Headlines for Saderea DAC > News item
Published on 6/21/2023 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Saderea announces default on $253.19 million 12½% bonds due 2026

By Devika Patel

Knoxville, Tenn., June 21 – Saderea DAC reported that the company failed to make a May 30 amortization and interest payment that was due on its $253,189,000 12½% senior secured amortizing bonds due 2026 (ISIN: XS1136935506), which constitutes a default under the notes.

The bonds are secured on promissory notes issued by the republic of Ghana.

The company is based in Dublin.


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