Argentina Reopens Debt Swap

Argentina Reopens Debt Swap

Corporate & Sovereign Strategy

The government of Argentina has announced that it will reopen a debt swap, exchanging 2033 discount bonds, global 2017 bonds and GDP warrants for around $6bn in defaulted debt. In June, creditors agreed to exchange roughly $12.1bn in defaulted bonds, or 66% of the $18.3bn Argentina had been targeting. In that deal, investors were offered a discount option, which included discounts due 2033, new 8.75% of 2017 globals and GDP-linked securities. The discounts pay 8.28% in dollars, 7.82% in euros an

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