Argentina creditors reject latest proposal but offer to negotiate

Argentina, Chess, negotiations, stalemate, LatAm, restructuring, 575
By Oliver West
09 Jul 2020

Argentina’s largest bondholders on Wednesday evening dashed hopes that the government’s new improved restructuring offer would achieve mass take-up. But some investors took hope from the tone of the creditors’ statement.

Late on Sunday night, Argentina had announced a new exchange for $67bn of bonds, improving the terms for creditors to such an extent that two bondholders, Gramercy and Fintech, immediately expressed public support. Analysts also highlighted that the offer looked “reasonable”.

But without the support of the largest ...

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