Definition of Tuna Bond
What is a Tuna Bond
A tuna bond was a debt-security, created in 2013, to purchase a fleet of tuna ships for 2 Mozambique state-owned fishing companies, one of which was Ematum. The $1 billion in asset-backed loans were provided by Credit Suisse.
The tuna bond issuance ended up becoming a corruption scandal in Mozambique where Credit Suisse paid a significant fine for their involvement and was forced to write off a large part of the debt owed by Mozambique. Additionally, several individuals in Mozambique faced corruption and money laundering charges.
GlobEx Markets Financial Dictionary of Terms, Phrases and Concepts
The GlobEx Markets financial dictionary is a reference resource that provides the definitions and explanations of various financial terms, phrases and concepts that are used in international finance and global investing. It includes a broad range of financial terms, such as those related to stocks, bonds, currencies, commodities, options, futures, crypto and much more.
A financial dictionary can be useful for anyone who wants to learn more about finance and investing, or who works in the financial industry. It can help clarify the meaning of technical terms and the language used in financial publications, reports and other sources.
Benefits of the GlobEx Markets Financial Dictionary
There are several benefits to using the GlobEx Markets financial dictionary, including:
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Overall, the GlobEx Markets financial dictionary can help improve your understanding of international finance and global investing. It is a valuable tool for anyone who works in the financial industry or who wants to improve their financial literacy.