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: ProIndicus
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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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.
Details provided in the [...]
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Zitamar Daily Briefing, 30 April
Welcome to Zitamar’s daily Mozambique briefing for 30 April, 2019
Agenda:
- Today: Nighttime public transport services start in Maputo City and Matola, Boane, Marracuene and other urban areas in Maputo Province
- Tomorrow: Labour Day [...]
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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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Mozambique ‘hidden debts’ spotlight back on President Nyusi
Filipe Nyusi selected Credit Suisse to finance the offshore security contracts in what became known as Mozambique’s ‘hidden debts’ when he was defence minister in 2013, according to a newspaper report based on a letter supposedly signed by Nyusi, asking [...]
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Credit Suisse three to fight extradition in November
The full extradition case for the three ex-Credit Suisse bankers accused of fraud and money laundering charges in the United States over Mozambique’s $2 billion of hidden debts will be heard in November, a London court heard today.
Andrew Pearse, Surjan Singh and Detelina Subeva were granted [...]
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