LONDON, April 6 Ivory Coast's defaulted $2.3
billion bond rose 1.2 points on Wednesday to a new four-month
high as incumbent leader Laurent Gbagbo was said to be on the
point of ceding power, bringing an end to a months-long crisis.
The 2032 bond XS0496488395=R was quoted at around 55 cents
on the dollar by 0730 GMT, the highest since Dec. 3 2010, while
the yield fell a quarter percent to 11.7 percent.
The bond has risen 13 points since the end of March as hopes
have grown that Gbagbo would soon be ousted by rival Alassane
Ouattara, who is internationally recognised as the winner of the
Nov. 28 election in the world's top cocoa producer.
Ouattara is seen as more likely to pay out on the defaulted
bond. Ivory Coast missed a $29 milllion interest payment at the
end of January.
(Reporting by Sujata Rao; editing by Carolyn Cohn))