Angola asks Trafigura to reschedule US$400 million debt payment
For the second time in two years, the Angolan authorities are using the economic crisis as an excuse to ask the commodities broker to extend the maturities of a debt linked to a former mining subsidiary.
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▪ Angola asks Trafigura to reschedule US$400 million debt payment
▪ For the second time in two years, the Angolan authorities are using the economic crisis as an excuse to ask the commodities broker to extend the maturities of a debt linked to a former mining subsidiary.
▪ https://www.africabusinessplus.com/en/806656/angola-asks-trafigura-to-reschedule-us400-million-debt-payment/
Following a presidential decree relating to the extractive sector promulgated in February 2016, Angola Exploration Mining Resources S.A. (AEMR), a company operating in the sector for more than two years, was granted an extension of the maturity date of its debt. AEMR, an indirect subsidiary of Trafigura, which managed iron ore development projects in the continent’s second-largest oil-producing country, went into liquidation.
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