Cresud launches local bond swap

Cresud launches local bond swap

Corporate & Sovereign Strategy Bonds Debt Fixed Income Latin America South America Argentina

Argentine agribusiness Cresud said that it has launched an offer to swap $59.6 million in 9% dollar-denominated bonds due July 11 for new notes with a longer maturity and the same interest rate as capital controls limit the company's access to dollars for making the payment on time. The company said it plans to pay back 40% of the bonds in cash as part of the swap, meaning that a maximum $35.7 million of the new three-year notes will be issued, according to a securities filing. To encourage bond

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial