La Rioja presents restructuring offer

La Rioja presents restructuring offer

Corporate & Sovereign Strategy Bonds Debt Fixed Income Argentina Capital Markets

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

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