Deals
Mozambique Bondholders Are Said to Eye Gas in Restructuring
- Holders’ proposal extends Eurobond maturity, coupon payments
- Government has missed payments on external loans since 2016
Photographer: Luke Sharrett/Bloomberg
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A group of Mozambique bondholders proposed the government pay them portions of future natural gas revenue as part of a restructuring of the nation’s Eurobonds, according to two people familiar with the discussions.
The so-called Global Group of Mozambique’s Bondholders formally made the proposal to the southeast African nation, which also includes cash-flow relief until 2023, said the people who asked not to be identified because the plan hasn’t been announced publicly.