All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group
Emerging MarketsEM LatAm

Argentine bank wraps swap but default looms

BCRA, Banco CEntral de la República Argentina, central bank, Buenos Aires, Argentina, LatAm, currency controls, peso, 575

Banco Hipotecario, the Argentine bank focussed on mortgage and consumer loans, will swap nearly 47% of its dollar bonds maturing on November 30 for new 2025s and cash. Fitch says it understands the central bank — which in September announced restrictions on hard currency debt refinancing — has approved the deal and that Hipotecario will be able to access a sufficient amount of dollars to carry out the swap.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree