Córdoba city starts restructuring 2024 notes

Córdoba city starts restructuring 2024 notes

Bonds Debt Corporate & Sovereign Strategy Fixed Income Asset Management Funds Economy & Policy Capital Markets Regulation Argentina Chile US Coronavirus

The municipality of Córdoba, the second most populated city in Argentina, has reached an agreement with Chile's Moneda Asset Management to alter the terms on $150 million in 7.875% 2024 notes and asked other bondholders to adhere to the plan, it said in a statement on Wednesday. The city government wants to extend the maturity by three and a half years and change the coupon from a fixed rate to a step-up rate that starts at 2.125% in September next year and rises to 7% by September 2027, it said

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