The cash-strapped Guyana Sugar Corporation is expected to soon begin tapping a $30B syndicated bond which it has secured from a group of local and regional banks for the revitalisation of its remaining sugar estates.
“It is a syndicated bond, thirty billion Guyana [dollars], from not only local but regional banks and we expect to start [collecting on it] in two weeks,” Head of the Special Purpose Unit (SPU) under government holding company, NICIL, Colvin Health-London, told Stabroek News yesterday. The SPU has been entrusted with overseeing GuySuCo and its assets.
“This money is only for GuySuCo’ s (retained) estates, I want to make that very clear,” he added while explaining that the $30B will be collected in “staggered” payments.