Angola gets back $200m collateral from JPMorgan after bond rebound
JPMorgan and Angola agreed in December on a $1bn (R17.72bn) one-year derivative contract known as a total return swap backed by $1.9bn (R33.67bn) in its government dollar bonds.
In early April JPMorgan demanded extra security from the Southern African crude oil exporter after a sharp oil price decline in the wake of tariff turmoil hit the value of Angolan bonds provided as collateral.
'The improvement in the price of Angola's Eurobonds has a positive impact, allowing the amount paid in compliance with the margin call to be returned to the state. This refund has already taken place,' the finance ministry told Reuters, adding it received the cash in May.
JPMorgan declined to comment.
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