Mozambique’s dollar bond rose nearly 2 cents after the U.S. cleared a $5 billion LNG loan. The bond, due in 2031, gained 1.83 cents to a bid of 80.94 cents on the dollar, following TotalEnergies’ project freeze due to unrest.
On March 14, Mozambique’s sovereign dollar bond saw an increase of nearly 2 cents, according to Tradeweb data. This uptick occurred after the United States approved a previously delayed $5 billion loan intended for a liquefied natural gas project.
Specifically, the 2031 bond rose by 1.83 cents to reach a bid price of 80.94 cents on the dollar. The $5 billion loan from the U.S. Export-Import Bank required re-approval, particularly after TotalEnergies halted construction in 2021 due to violent unrest in the Cabo Delgado region.
In summary, Mozambique’s dollar bond experienced a positive shift following the U.S. approval of a $5 billion loan for a liquefied natural gas project. The approval, which followed a period of uncertainty, is expected to enhance investor confidence and stabilize the region’s economic outlook.
Original Source: www.marketscreener.com
