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Home Africa

Mozambique launches Eurobond exchange offer

Fabio Scala by Fabio Scala
August 27, 2019
in Africa, Banking, Capital Markets, Finance, Mozambique
Reading Time: 1 min read
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The Mozambican Government has just announced that, pursuant to the agreement of principles concluded in May this year, it has formally launched an exchange offer for its 10.5% Eurobond of 2023. With this offer the Government seeks to achieve the necessary restructuring of its debt which, could allow Mozambique’s relationship with the international financial community to somewhat go back to normal.

The offer requires 75% approval of holders of the total outstanding principal to be accepted and will require a deadline for response on 6 September. If accepted, the settlement should be done on September 30th. The technical information about the operation and its procedures can be found in the “Consent Solicitation Memorandum” released today by Mozambique’s ministry of Economy and Finance .

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Tags: EMATUMEurobondFeaturehidden debtMAMMozambiqueMozambique Ministry of Economy and FinanceProIndicusмозамбикموزمبيقモザンビーク莫桑比克
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Fabio Scala

Fabio Scala

Fabio Scala is a director at BNI Bank in Mozambique, an institution he helped to create and served from 2010 to 2014. In his interval from BNI, he served in a UK family office for 5 years expanding its equity portfolio in Mozambique, Zimbabwe, Zambia and South Africa. He is also a board member of Uhusiano Capital, a boutique investment firm focused in impact investment projects in Southern Africa. Prior to his African experience, Fabio has worked in the US, Portugal and Brazil where he started his career at Caixa Economica Federal - the country’s largest state bank.

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