Buenos Aires province seeks to delay debt payment

Buenos Aires province seeks to delay debt payment

Debt Corporate & Sovereign Strategy Capital Markets Bonds Fixed Income Economy & Policy Funds Asset Management Regulation Politics Argentina

Buenos Aires province said Tuesday that it has asked holders of its 2021 bonds to accept late payments, catching some analysts by surprise as it had been thought that the federal government would bail out the country's largest and most indebted province governed by a heavyweight in the ruling party. In a statement, the province's Ministry of Finance proposed making the next payment on the 10.875% notes on May 1, rather than the due date on January 26. The province faces a payment of $250 million

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