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  • Argentina's Economy Minister Martin Guzman.

    Argentina's Economy Minister Martin Guzman. | Photo: EFE

Published 6 July 2020
Opinion

The new offer includes a year of grace instead of three, as proposed by Economy Minister Martin Guzman on April 21.

Argentina's Economy Minister Martin Guzman Monday will submit to the U.S. Securities and Exchange Commission (SEC) an amendment to the offer of restructuring public debt with foreign currency.

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Argentina Extends Debt Restructuring Negotiations

The official proposal will go up to US$53.5 cents a dollar for those bond creditors who accept the offer. 

Those who do not accept it and are forced to accept it by the collective action clauses (CAC) will receive 52.2 cents a dollar. 

The new offer includes a year of grace instead of three, as proposed by Economy Minister Martin Guzman on April 21.

“As it had been anticipated, this Sunday night the government of Alberto Fernandez released its proposal to pay the debt trough foreign private creditors. It will be enabled this Monday and until August 4.”

In the next two weeks, Argentina's Ministry of Economy will send a project to Congress to address the restructuring of the local debt in dollars under equitable conditions.

The deadline for creditors to join the swap was extended until August 4, 5h00 local time.

The Public Debt Restructuring Plan was proposed by President Alberto Fernández and it was launched in December 2019.

The Restructuring seeks to re-establish the debt repayment sustainability as it redefines the financial obligations' profile for the future.

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