July 3, 2012 / 11:21 AM / in 5 years

Ivory Coast pays June coupon on time - bank

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)

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