Neuquén sweetens restructuring offer

Neuquén sweetens restructuring offer

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Argentina Latin America Coronavirus

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. The

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