Republic of Congo bond jumps 7 cents after missed payment made

August 9, 2016 8:56 AM

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LONDON Aug 9 The Republic of Congo's 2029 dollar bond jumped by as much as 7 cents on Tuesday after trade body Emerging Markets Trade Association (EMTA) said the country had transferred funds to make an overdue payment on the issue.

The bond, in which $478 million is outstanding, traded as high as 71 cents in the dollar after closing at 64 cents on Monday, its lowest level on record, according to Tradeweb data.

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