Ivory Coast pays June coupon on time - bank

Tue Jul 3, 2012 11:19am GMT

DAKAR, July 3 (Reuters) - Ivory Coast has paid the June coupon on its defaulted $2.3 billion Eurobond as planned, one of the banks watching the issue said on Tuesday.

"I can now confirm that the coupon payment has been received," Samir Gadio, sub-Saharan Africa analyst at London-based Standard Bank told Reuters, forecasting that the payment and recent debt relief deals for the West African state would "generate another multi-month leg in the Eurobond rally".

It was not immediately clear whether a promised token payment on bond arrears was also made at the same time. (Reporting by Mark John; Editing by Bate Felix)

  • Africa
  • US
  • Europe
  • Asia
UK £ USD =1.2617
Euro USD =1.1124
Rand USD =0.0764