December 2, 2020 |
Río Negro, a southern province of Argentina, said Tuesday that it has launched an offer to restructure $300 million in 7.75% 2025 bonds after reaching an initial agreement with a group of creditors holding more than 50% of the notes.
The provincial government said it will seek to increase the acceptance rate to 75%, activating the collective action clauses for a successful restructuring of all of the outstanding notes, according to a statement.
The decision to move forward with the offer, which
Argentine province says it already has more than 50% acceptance for the offer