They are called stragglers: bondholders who did not get with the 'Superbond' programme before the tender closed on January 23rd. But now those stragglers have been reeled in - almost by force.
Basically what's happened is that lawyers for the government of Belize invoked what's called a collective action clause to force them to buy the superbond. That means that because the majority of the holders of those year 2015 bonds had already subscribed, the holdouts have been forced to subscribe to the new Superbond due in the year 2029.
A government release to the international financial markets says that this is the first time in 70 years that a collective action clause has been used for a bond issued under U.S. law. And to get everyone in, the government has announced that it will be accepting late tenders up until February 14th. The bond closes on the 20th.
