November 12, 2020
The city of Córdoba in central Argentina said Wednesday that holders 83.8% of its 7.875% 2024 bonds agreed to restructure the notes, surpassing the minimum acceptance rate of 75% to seal a deal.
The city government reached an agreement late last month with Chile's Moneda Asset Management to alter the terms on the $150 million in outstanding notes and asked other bondholders to adhere to the plan by November 10.
The deal extends the maturity by three and a half years and changes the coupon from a
Argentina's second most populous city gets 84% of bondholders to agree to the new terms