October 23, 2020 |
A group of creditors have rejected an improved offer by Neuquén to restructure $328 million in 8.625% 2028 bonds, saying that the Argentine province can pay more.
The Ad-Hoc Committee of Secured Bondholders of the Province of Neuquén said in a statement that it cannot accept the revised offer, although the sub-sovereign has made changes in the right direction. The group said it believes that the province's cash flows "have and continue to be fully capable of servicing the contractual payments du
Creditors group claims the Argentine province can pay more on the proposed new bonds