U.S. court lifts restrictions on Congo’s $363m Eurobond

A U.S. court ruled to lift two restraining notices that had blocked a coupon payment on Congo Republic’s $363 million Eurobond amid a $1 billion legal dispute between the government and a construction firm, according to a court filing seen on Wednesday.

A payment on the bond maturing in 2029 was frozen in June after Commissions Import Export S.A. filed two restraining orders to the bond’s trustee the Delaware Trust Company. Congolese authorities had transferred the payment a day before.

It was not immediately clear if the coupon payments have now resumed.

Author: South Sudan News Portal

Sudan's Hyper local news website and internet portal southsudan.biz gives a smart speedy take on South Sudan. Features, Business Directory, Free Classifieds Advertising, Magazines, Flights Information, Jobs Board and Entertainment.