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Emerging MarketsEM LatAm

BCRA approves YPF refi to end debt swap saga

YPF, Argentina, LatAm, 575, oil, gas

Argentine oil and gas company YPF will avoid a hard default after the country’s central bank, the Banco Central de la República Argentina (BCRA) agreed to provide the issuer with sufficient dollars not just to complete a bond swap, but also to make a maturity payment on March 23 to creditors that did not participate in the company's recent debt exchange.

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