Business news feedMozambique dollar bonds fall over 2 cents after saying it won't pay coupon

Thu,23Nov2017

Posted on Monday, 16 January 2017 10:48

Mozambique dollar bonds fall over 2 cents after saying it won't pay coupon

January 16, 2017, 12:48 pm

LONDON (Reuters) - Mozambique's 2023 dollar-denominated bond fell over 2 cents on Monday, according to data from trading platform MarketAxess, after the finance ministry said it would not make a Jan. 18 coupon payment to bondholders. The 2023 bond was down 2.02 cents to trade at 57 cents in the dollar, according to MarketAxess. The southern African nation, whose total foreign obligations are roughly equivalent to its GDP, said its financial difficulties made its ability to repay debt this year "extremely limited".(Reporting by Claire Milhench, editing by Karin Strohecker)



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