Mozambique Wants Credit Suisse, Privinvest to Help Pay Its Bonds

Government says $2 billion of debt was part of a fraud scheme
Mozambique seeking to restructure $727 million of Eurobonds

Maputo skyline.
Photographer: Waldo Swiegers/Bloomberg

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By Borges Nhamirre and Matthew Hill

September 2, 2019 at 1:16 PM UTC

Updated on

September 3, 2019 at 8:15 AM UTC

This article is for subscribers only.

Mozambique wants a U.K. court to order Swiss lender Credit Suisse Group AG, shipbuilder Privinvest and others to share responsibility for repaying a $727 million Eurobond the government is restructuring.

Details of the claims, filed in London’s High Court of Justice in February, are laid out in a 102-page document sent to bondholders and seen by Bloomberg. The so-called consent solicitation memorandum and the High Court filings haven’t been made public before.