Mozambique Dollar Bonds Slump to 2023 Low on Restructure Plan

Mozambique’s dollar bonds fell to the lowest in almost three years after authorities gave the strongest signal yet of plans to seek restructuring talks with creditors.

The $900 million of bonds due 2031 fell 3.6 cents on Tuesday to 72.98 cents on the dollar as of 11:16 a.m. in London, the lowest since June 2023, according to CBBT composite pricing. The notes have been selling off for several weeks, and came under renewed pressure from the Iran oil price shock and scrutiny from global ratings companies.