Mozambique Tuna Bonds in Record Surge on Restructuring

  • Maximum price of new sovereign notes to be 80 cents on dollar
  • Details of debt exchange terms will be announced on March 17

Bonds of Mozambique’s state-owned tuna-fishing company gained the most on record after the south-east African nation proposed to exchange almost $800 million of debt for longer-term securities in a bid to reduce annual interest payments.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.