Minister: Honduras will make first bond payment

Honduras will make its first bond payment on time, finance minister Wilfredo Cerrato said, after a U.S. court lifted an order that would have prevented the country from making its bond payment.

He said he was satisfied with the decision of a New York court denying the attempt of parties to a 20-year old dispute to hold up the payment, according to an official statement.

Honduras is scheduled to make an $18.75 million interest payment Monday on $500 million in debt it sold investors earlier this year, in the country's first bond offering.

Source: Wall Street Journal