Gabon Dollar-denominated Bonds Suffer Highest Drop 

Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap. <br />The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT. <br />The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents. <br />He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.<br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>