Chaco launches restructuring offer

Chaco launches restructuring offer

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

Chaco, a northern province of Argentina, said Tuesday that it has launched an offer to restructure $250 million in 9.375% 2024 bonds, saying it is hopeful of getting sufficient support so it can trim its debt servicing costs. The move comes after an ad hoc group of bondholders led by London-based VR Advisory Services and holding about 50% of the notes agreed to the terms of the restructuring in April. The group "is expected to support the province's proposal," the province said in a securities f

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