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Buenos Aires Province Reaches Agreement W/Certain Bondholders

ARGENTINA
  • Argentina's Buenos Aires province and certain institutional investors, including GoldenTree Asset Management, reached agreement on the terms of a debt restructuring which will grant the province significant debt relief. (BBG)
  • As per Bloomberg:
  • Holders of eligible bonds will be entitled to receive either new USD 2037 A bonds or new Euro 2037 A bonds.
    • Holders of USD 2035 bonds and Euro 2035 bonds will be entitled to receive either new USD 2037 B Bonds or new Euro 2037 B Bonds
  • All consenting holders will receive 100% of interest accrued on existing bonds, paid 10% in cash at settlement, and 90% capitalized into new bonds delivered at settlement.

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