Mozambique, Hedge Funds Set to Face Off in Debt Negotiations

(Bloomberg) Mozambique is set to meet foreign creditors in London Tuesday in what will mark the start of formal debt-restructuring negotiations, more than a year after the southern African nation defaulted. Investors, which include UBS Group AG and Credit Suisse Group, aren’t sure what will be discussed. Mozambique first missed coupon payments on $727 million of securities due 2023 in January last year and has had almost no contact with the holders since then.

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