March 3, 2021 |
Jujuy, a northwestern province in Argentina, said it has reached a preliminary deal with a group of bondholders to restructure $210 million in 8.625% 2022 bonds, gaining more time to pay the debt at a lower interest rate.
The province reached the "agreement in principle" with an ad hoc group represented by VR Advisory Services and holding more than 50% of the principal, it said in a statement late on Monday.
As a result, Jujuy said it will launch a consent solicitation including the agreed amend
Argentine province negotiates a longer maturity and a lower rate on a $210 mln bond due in 2022