PBA creditors plea as Arg holders hope for improvement

Province of Buenos Aires, PBA, Argentina, cathedral, LatAm
By Oliver West
14 May 2020

The Province of Buenos Aires (PBA) legally entered default this week amid pleas from its creditors for serious restructuring negotiations. But Argentine sovereign bondholders are still holding out hope that they may come to an agreement with the national government.

On Thursday, the grace period on an overdue maturity payment on PBA’s 4% May 2020s expired, meaning that an Argentine government issuer had finally re-entered hard default.

Creditors showed no initial desire to turn to the courts. Instead, on Thursday, a group holding more than 42% of the province’s ...

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