Córdoba reaches last-minute deal

Córdoba reaches last-minute deal

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

Córdoba, a central province in Argentina, has reached a deal with holders of $1.7 billion in international bonds to exchange them for new notes with longer maturities and lower interest rates, avoiding at nearly the last minute what could have been its first-ever default, Gov. Juan Schiaretti said. "The province of Córdoba has just restructured its foreign debt," Schiaretti (pictured) said late Monday in a televised press conference. "We did this successfully and without entering into default."

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