Argentina swaps $4.8 bln in local notes

Argentina swaps $4.8 bln in local notes

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

Argentina swapped ARS305 billion ($4.8 billion) in peso-denominated bonds at an auction on Thursday, a deal designed to ease the government's near-term debt payment schedule as it seeks to restructure $68.8 billion in foreign-law bonds and sustain economic activity despite a worsening outbreak of the coronavirus. The Finance Ministry said it received 673 orders to swap the 13 local-law treasury notes for four bonds maturing between 2021 and 2024, according to a statement. Of the new bonds, the o

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