World Markets

Mozambique says creditors holding 99.5% of Eurobond support debt swap plan

Mozambique said on Monday creditors holding 99.50% of its Eurobond have given consent to its debt restructuring proposal, paving the way for an overhaul of part of its hefty debt burden.

Sept 9 (Reuters) - Mozambique said on Monday creditors holding 99.50% of its Eurobond have given consent to its debt restructuring proposal, paving the way for an overhaul of part of its hefty debt burden.

The heavily indebted country needed the consent of at least 75% to push through its planned debt restructuring.

In the statement, the finance ministry said it expected settlement to "occur on or around 30 September 2019."

(Reporting by Karin Strohecker Editing by Chris Reese)

((karin.strohecker@thomsonreuters.com; +442075427262; Reuters Messaging: karin.strohecker.reuters.com@reuters.net))

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