October 20, 2020 |
Neuquén, the most productive oil and natural gas province in Argentina, said Monday that it has improved an offer for restructuring $328 million in 8.625% 2028 bonds as it seeks to reach a deal by October 30.
The province said it has "increased" the interest rate on the bonds from the original offer, which was not disclosed, according to a statement. As it stands now, bondholders who accept the offer will be paid 3% in the first year, 5% in the second and 7% in the remaining years, it said.
Argentine province increases interest rates to get holders of 2028 bonds to accept