January 13, 2021 |
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."
Argentine province restructures $1.7 bln in bonds with longer maturities and lower interest rates