‘Zero chance’ of Mozambique paying up, say creditors

By Virginia Furness
16 Jan 2017

Mozambique did not make a $60m coupon payment on its 2023 sovereign bonds due on Wednesday, and as it entered the subsequent grace period, creditors say there is “zero chance of the payment happening”.

The first coupon on Mozambique’s 2023 Eurobonds, which were formed out of an exchange offer on state-owned company Ematum’s 2020 Eurobonds in April 2016, was due on January 18. Mozambique did not meet this deadline.  

Standard & Poor's downgraded Mozambique long-term foreign currency rating to selective default in ...

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