Following UBS Group AG’s settlement over Credit Suisse’s involvement in a ship-financing scandal, Mozambique’s bonds saw an uptick, with the 2031 debt yield decreasing by 19 bps to 13.34%. Initiated a decade ago when Credit Suisse financed coastal patrols and a fishing fleet, Mozambique accused the bank of overlooking corruption. While settlement specifics remain undisclosed, insiders believe UBS might forgive up to USD 100 mln of Mozambique’s debt.