August 31, 2021 |
Buenos Aires province said Monday that it has received 98% acceptance from bondholders to move forward with a restructuring deal, as investors are seen rushing to sell the new bonds to profit from a expected spike in bond prices as early election results indicate a shift back to center-right politics.
The agreement will provide "very important relief in the long term" of $4.6 billion through 2027, Buenos Aires Gov. Axel Kicillof said in a televised press conference.
The deal "lengthens the terms
Argentina's largest province reaches 98% acceptance as creditors seek to sell the new bonds during an expected election-led surge in prices