{"id":11672,"date":"2012-06-20T23:36:21","date_gmt":"2012-06-20T21:36:21","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/gabon-creditor-may-settle-dispute-soon-unlock-bond-coupon\/"},"modified":"2012-06-20T23:36:21","modified_gmt":"2012-06-20T21:36:21","slug":"gabon-creditor-may-settle-dispute-soon-unlock-bond-coupon","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/gabon-creditor-may-settle-dispute-soon-unlock-bond-coupon\/","title":{"rendered":"Gabon creditor may settle dispute soon, unlock bond coupon"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 20<\/span> (Reuters) &#8211; South African conglomerate Aveng<br \/>\nand its banker Nedbank have agreed to a Gabon government<br \/>\nproposal to settle a legal dispute that has delayed a Eurobond<br \/>\ncoupon payment from the West African country for over a week, a<br \/>\nNedbank executive said on Wednesday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Gabon&#8217;s government earlier told Reuters that a $32 million<br \/>\ncoupon payment on its $1 billion Eurobond had been delayed<br \/>\nbecause funds had been frozen by a court order obtained by a<br \/>\nthird-party creditor.<\/p>\n<p><span><\/span><\/p>\n<p>Nedbank confirmed that its client Aveng was the creditor in<br \/>\nquestion.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The Gabonese government has come with a proposal to resolve<br \/>\nthe matter and we have accepted the terms of their proposal.<br \/>\nHowever certain payments need to be made before we lift the<br \/>\nfreezing order,&#8221; Brian Kennedy, group managing executive for<br \/>\nNedbank told Reuters from South Africa.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are agreeable to the proposal and we are waiting for the<br \/>\nimplementation thereof,&#8221; Kennedy said, adding that lifting the<br \/>\ncourt order and unfreezing the cash could be a &#8220;matter of<br \/>\nhours.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The coupon was due on June 12 and Gabon has a 10-day grace<br \/>\nperiod before it is considered to be in default.<\/p>\n<p><span><\/span><\/p>\n<p>Kennedy said the claim on Gabon dated back to 2001 and<br \/>\nrelated to the construction of housing units. He declined to say<br \/>\nhow much was owed.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON, June 20 (Reuters) &#8211; South African conglomerate Aveng and its banker Nedbank have agreed to a Gabon government proposal to settle a legal dispute that has delayed a Eurobond coupon payment from the West African country for over a week, a Nedbank executive said on Wednesday. Gabon&#8217;s government earlier told Reuters that a $32 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11672","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11672"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11672\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}