Mozambique seeks to bar hidden loan conspirators from eurobond restructure
Restructuring documentation seen by Zitamar contains an admission by Mozambique and its advisers that the EMATUM guarantee was never valid
Browsing: Hidden Debts dossier
Mozambique calls on creditors to accept eurobond restructure by 6 September
Participating creditors will be required to confirm ‘bona fides’ with respect to ProIndicus, EMATUM and MAM transactions
The Mozambique finance ministry today launched its formal call for investors in its dollar-denominated sovereign bond to accept the
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Privinvest continues offshore logistics operation in Mozambique despite litigation
Privinvest, the contractor which supplied Mozambique’s controversial ‘hidden debts’ security companies, continues to do business in the country through a logistics subsidiary which provides services to offshore oil and gas operations, despite ongoing legal action [...]
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South Africa’s new justice minister seeks to overturn Chang extradition decision
The decision to extradite former Mozambican finance minister Manuel Chang to Mozambique made by former South African justice minister Michael Masutha in May looks set to be overturned, after the new justice minister concluded that it was unlawful and in violation of Southern African Development [...]
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Mozambique in Eurobond dilemma after ‘binding’ ruling voids EMATUM deal
Mozambique’s government says it is seeking legal advice on the implications of restructuring a sovereign Eurobond that it sold in 2016 to refinance a loan for tuna fishing and offshore security company EMATUM, after the Constitutional Council ruled the [...]
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Gas hook taken out of Mozambique tuna bond
Mozambique has reached a new restructure agreement with the holders of the majority its sovereign bond — bringing forward the amortisation date by two years and paying higher interest rates than the two sides agreed last November, but eliminating a [...]
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Defense minister M’tumuke helped launder Privinvest bribes, evidence shows
Mozambique’s minister of defence, Atanasio Salvador M'tumuke, indirectly benefited from bribe money from the so-called hidden debt case, according to a document seen by Zitamar News
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‘Die is cast’ for Manuel Chang extradition to Mozambique
Former finance minister Manuel Chang will be returned to Mozambique rather than extradited to the United States, the South African justice minister said yesterday, in a ruling which has no reasonable chance of being overturned, according to a South African [...]
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Mozambique restructures one, rejects another ‘criminally’ guaranteed loan
The Mozambique government will refuse to honour the ProIndicus loan, as it was “criminally-obtained” - but is close to restructuring the MAM loan guaranteed under similar circumstances.
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Mozambique close to MAM restructure deal, but will let ProIndicus go bankrupt
The Mozambique government intends to disregard the sovereign guarantee it signed on the $622 million loan for offshore security company ProIndicus, and let it go bankrupt - but has reached an agreement in principle to restructure a similar loan made to ProIndicus’ sister company MAM, the [...]
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