September 2, 2021 |
Argentine province La Rioja asked bondholders on Wednesday to delay the due date on $300 million in outstanding 9.75% 2025 notes and accept step-up interest payments through 2028.
According to the terms of offer, La Rioja will pay a coupon of 3.5% until February 2022, followed by payments of 4.75% until February 2023, 6.5% until February 2024 and 8.5% until maturity in February 2028.
La Rioja also offered to pay $600,000 in cash to bondholders who agreed to the restructuring. The province needs
Argentine province asks bondholders to accept step-up interest payments on $300 mln in outstanding debt through 2028