European banks manage bond sale for Mozambique

6 September 2013

Mozambican state agency Ematum has mandated the BNP Paribas and Credit Suisse banks to organise a debt issuance of US$500 million in Treasury Bonds with a seven-year maturity, financial news agency Reuters reported.

The bond issuance, which may be included in the J.P.Morgan Emerging Market Bond Index (EMBI), which ended Thursday had higher demand than supply and will pay out a yield of around 8.5 percent.

Mozambique has a rating of “B+” from Standard and Poor’s and Fitch Ratings, but this debt issuance was not rated. (macauhub)