March 20, 2018 / 6:45 PM / 4 months ago

Mozambique debt proposal is a 'non-starter' - Eurobond creditors group

LONDON (Reuters) - A group representing the holders of a Mozambique Eurobond earmarked for debt restructuring rejected a proposal tabled by Maputo at a meeting in London on Tuesday.

“This is a non-starter for the Eurobond holders,” said Thomas Laryea at Cooke Robotham LLC, legal adviser to the Global Group of Mozambique Bondholders (GGBM).

The GGBM says its members and bondholders supporting the group continue to hold over 80 percent of the issue.

Reporting by Karin Strohecker; Editing by Andrew Roche

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