February 19, 2021 |
Argentina's Medanito said it has started negotiations with bondholders to restructure a $20 million bond that it defaulted on more than a year ago as it faces demands to repay an $80 million syndicated loan.
The oil and natural gas producer asked investors to swap outstanding 9.87% bonds for shares in a trust, according to a securities filing. Medanito will put its main assets into the trust and file for regulatory approval to list it publicly.
The proposed bond swap marks Medanito's latest effo
Argentine oil producer plans to ask bondholders to exchange outstanding notes for shares in a trust