Salta skips bond payment

Salta skips bond payment

Bonds Debt Capital Markets Fixed Income Argentina Latin America Coronavirus

Salta, a northwestern province of Argentina, said it will use a 30-day grace period to make an interest payment on its 9.125% 2024 bond as a prolonged recession and the COVID-19 pandemic cut into tax revenues and reduce the capacity to pay debts. The interest payment was due on Thursday, Roberto Dib Ashur, the province's economy minister, said in a securities filing on Thursday. Salta has $350 million in outstanding 2024 bonds. Dib Ashur said he hopes that the grace period will provide enough ti

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