Ivory Coast Bondholders Must ‘Recognize’ Gbagbo for Payment
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Ivory Coast’s $2.3 billion of Eurobonds fell to a record low as a spokesman for Laurent Gbagbo said the country will make a missed interest payment only if creditors recognize him as victor of the disputed presidential November elections.
The debt of the world’s biggest cocoa producer declined 0.3 percent to 37.625 cents on the dollar as of 5:40 p.m. in Abidjan, the commercial capital, according to data compiled by Bloomberg. That drove the yield on the 2.5 percent debt due 2032 up 5 basis points to 16.893 percent.