October 12, 2020 |
Banco Hipotecario, Argentina's largest mortgage lender, said Friday that it agreed to swap $131 million worth of 9.75% 2020 bonds for new notes at the same rate that mature in 2025.
The exchange covers 47% of the principal amount of $280 million in the offer, the bank said in a statement.
Two weeks before, when bondholders had tendered $97.6 million, or 34.9%, of 2020 notes, Banco Hipotecario added a larger cash payment to bolster the low turnout. The bank agreed to pay $600 in 2025 notes and $4
Argentine lender exchanges less than half of its 9.75% 2020 bonds for new 2025 notes