Senyo Hosi is a convener of the Individual Bondholders Forum
The Convenor of the Individual Bondholders Forum, Senyo Hosi, has stated that the newly proposed debt restructuring offer by the government is a “good deal”.
He added that even though there may be some risks because of the long-term nature of pension funds the terms may be favourable.
He said on JoyNews PM Express that “It’s a good deal,
Read full articleno two ways about that. That it is technically or financially a good deal, but inherent may be political risk. But outside of that is a political risk that pension funds will always have to face because their liabilities are long term not short term.”
Senyo Hosi further intimated that the government could achieve more if broader stakeholder consultations were held.
“I don’t think that if the government manages the consultation properly and the communication properly, it can’t get some progress with the labour unions and the trustees. You could hear from the trustees – because they’re a bit more technical – and they realize that if you’re actually looking at boosting the pensions returns of the union members, it is rather the deal you should take.
“Because you’re actually going to have a pie yield of about 21 and today, you’re around 18 or 19.02 five pie yields on the current papers. So, you [the government] just need to carry people along,” he said.
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Senyo Hosi is a convener of the Individual Bondholders Forum
