Cresud to swap dollar debt

Cresud to swap dollar debt

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

Cresud, one of Argentina’s largest agriculture companies, said Monday it launched an invitation to holders of its 9% dollar-denominated bonds due this November to exchange them for cash and new bonds with longer maturities, as capital controls prevent it from making the payment on time. Exchange offers are coming in from many different companies as a result of capital controls, putting a focus on borrowing locally.  In Cresud's case, the company said it will offer to exchange $44.2 million of th

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