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LONDON - Both of Zambia's newly-restructured government bonds are to be included in J.P. Morgan's widely-followed emerging market debt indexes the bank said on Friday.
Zambia recently completed a restructuring of its defaulted U.S. dollar-denominated sovereign debt, issuing two new bonds with two different structures with a total notional value of just over $3 billion dollars.
"Based on the latest available information, both of the newly issued bonds satisfy Index eligibility criteria, in-line with Index rules and methodology," J.P. Morgan said, adding that removal of the country's existing bonds and addition of the new ones would be reflected on June 28.
As-of June 13, Zambia had a weight of 0.31% and 0.18% in the EMBI Global Diversified and the EMBI Global indexes respectively.
(Reporting by Marc Jones, editing by Alun John)