News of bondholders

DEBT RESTRUCTURING

'We can't do more than this,' Fernández tells Argentina's creditors

Yesterdat 23:54 President says in a radio interview that Argentina has made its "maximum effort" to reach an agreement with bondholders, reiterating that what's on the table is the country's "final offer."

DEBT RESTRUCTURING

‘Final’ offer on table as debt talks enter critical stage

11-07-2020 08:54 Argentina formalises latest debt bond swap proposal, filing offer with SEC and extending deadline to August 4.

POLITICS & THE PANDEMIC

The arguing never stops

11-07-2020 08:13 The arguing will never go away. At times it pauses briefly when the public is hit by unsettling news on the coronavirus front, but then, in no time at all, the bickering begins once more.

by Martín Gambarotta

BLOOMBERG

Ecuador’s speedy debt deal underscores Argentina’s hang-ups

10-07-2020 17:31 President Lenín Moreno’s administration struck an agreement with some of its top bondholders this week ahead of a mid-August deadline, when a moratorium on payments ends. By contrast, Argentina has presented a second binding offer to creditors after pushing back its deadline five times.

DEBT RESTRUCTURING

Guzmán rules out changes to offer, but creditors say proposal 'falls short'

09-07-2020 02:37 Economy Minister Martín Guzmán rules out further changes to government's debt restructuring offer as offer wins support from IMF and some G20 finance ministers. Large creditors, however, aren't impressed.

BLOOMBERG

Malbec bonds beat defaulted Argentine peers on investor hope

09-07-2020 02:26 A glimmer of hope is lurking within Argentina’s default-ravaged debt landscape: Bonds sold by Mendoza, the Andean-bordering province famed for exports of full-bodied Malbec wine.

DEBT RESTRUCTURING

This is Argentina's final debt offer, Guzmán tells creditors

08-07-2020 17:33 Economy minister describes talks as "a cold shower of reality for creditors," as they've come to realise Argentina's limitations.

DEBT RESTRUCTURING

Favourable initial reaction to Argentina's new debt swap offer

08-07-2020 16:58 Two investment funds, Gramercy and Fintech Advisory, express approval for Argentina's new debt restructuring offer. Creditors entering the swap stand to obtain 53.5 cents for every dollar loaned as against 39 cents in the first offer rejected by most creditors.

DEBT RESTRUCTURING

Government files new debt restructuring offer with SEC

07-07-2020 14:04 Argentina formally presents its new proposal to the US Securities and Exchange Commission, extending deadline for acceptance to August 4.

BLOOMBERG - OPINION

Mohamed A. El-Erian: Argentina's debt proposal deserves support

07-07-2020 01:35 It would be in neither side's long-term interest to allow the theoretical best to be the enemy of the attainable good – what is now on the table warrants support by both Argentina and its creditors.

DEBT RESTRUCTURING

Two creditor groups mull 'lock-up' to oppose government's offer

03-07-2020 03:47 The Ad Hoc and Exchange Bondholder groups are closely watching to see if the government submits an offer that it has discussed with a third creditor group – the Argentina Creditor Committee – and would reject it.

DEBT RESTRUCTURING TALKS

Government weighs earlier coupon payments as debt talks stall

30-06-2020 19:09 Argentina is considering paying coupons sooner than previously announced, as it aims to close a gap with creditors in debt restructuring talks, according to people with knowledge of the matter.

DEBT RESTRUCTURING

Argentina's creditors urge officials to move ahead on debt talks

30-06-2020 15:10 Creditors groups call for progress on talks, saying the "lack of serious engagement from the Argentine authorities is deeply concerning."

DEBT RESTRUCTURING

What’s the hold-up? Four sticking points in Argentina’s debt talks

27-06-2020 08:59 Four issues are keeping the government and its creditors apart ahead of the July 24 deadline for an accord.

PERIODISMO PURO / INTERVIEW

Jeffrey Sachs: ‘This is not a game for BlackRock to get an extra percentage point – that's absurd’

27-06-2020 08:29 US economist and public policy analyst Jeffrey Sachs on Argentina’s debt restructuring talks, the Macri administration’s missteps and the fall-out from the coronavirus pandemic.

by Jorge Fontevecchia

BLOOMBERG

Argentina reached ‘an understanding’ with one creditor group, says Guzmán

25-06-2020 16:30 Argentina reached an understanding – but not an agreement – with one group of creditors, but major differences remain with another key faction, says Economy Minister Martín Guzmán said Thursday.

DEBT RESTRUCTURING

Guzmán says Argentina cannot commit to demand from creditors group

23-06-2020 21:31 Guzmán says Argentina cannot commit to legal terms proposed by one of the leading creditor groups, the Ad Hoc Bondholder Group, but remains open to discussion.

DEBT RESTRUCTURING

Creditors accuse Argentina of 'terminating dialogue' in order to 'provoke division'

20-06-2020 08:46 Ad Hoc and Exchange Bondholder groups says they’re “united in disappointment” about the decision to “terminate dialogue” with creditors and extend talks at a critical juncture of negotiations.

DEBT RESTRUCTURING

Debt restructuring 'progressing,' deadline extended for five weeks

20-06-2020 08:25 Deadline now set for July 24 "to continue discussions and allow the investors to contribute to a successful restructure," the government said in a statement.

DEBT RESTRUCTURING

Creditors' group issues court threat as debt talks hit a wall

18-06-2020 02:19 Talks seemed to have hit a wall, with one government source saying it was "highly unlikely" a deal will be agreed before Friday's deadline.

DEBT RESTRUCTURING

Debt talks with creditors stall amid growing animosity

18-06-2020 01:21 Ad Hoc Bondholder Group, one of several that have been most active in the talks, slammed Argentina for rejecting what it called a “sustainable and sensible solution.”

BLOOMBERG – ANALYSIS

Argentine corporates are bright spot after nation's debt default

18-06-2020 00:28 You might think Argentine companies will struggle to make bond payments due this year amid the government’s ninth default, a long recession and ever-stricter capital controls. You’d be wrong.

DEBT RESTRUCTURING

Argentina extends confidentiality agreements with creditors as talks continue

16-06-2020 23:12 Government likely to present its new offer on Friday, with deadline set for another extension until Monday.

Bloomberg

Farmers shun government's solution to debt conundrum

16-06-2020 22:28 Agriculture sector lobbying against the government’s proposal to sweeten an offer on its overseas debt restructuring with payments tied to sector's exports.

BLOOMBERG

Creditors present new debt swap offer, but differences remain

15-06-2020 23:58 Two groups submitted offer to government over weekend, in which they agreed to accept losses on a net-present value basis of about 44% to 46%, according to reports.

DEBT RESTRUCTURING

Fernández: Argentina working on improved offer to creditors

15-06-2020 09:00 "We all want to avoid default, but we are acting with economic rationality," declares Peronist leader, confirming a new improved offer is on the way.

EXTENDED INTERVIEW

Martín Guzmán: ‘The reality facing Argentina was not understood by creditors’

13-06-2020 09:06 Economy Minister Martín Guzmán on debt talks, sustainability, the IMF, the coronavirus pandemic, printing money and inflation.

by Jorge Fontevecchia

DEBT RESTRUCTURING

Argentina extends debt offer deadline as talks start wrapping up

12-06-2020 17:39 The country will push back the deadline by a further week to June 19, according to a statement from the Economy Ministry.

DEBT RESTRUCTURING

Stiglitz again calls for debt deal: 'Argentina's creditors have no shame'

12-06-2020 14:52 "Short-termism is being reflected in the debt negotiations with Argentina, with some creditors demanding money that exceeds what is sustainable," says Nobel economics laureate.

Another debt deadline day

Government prepares new proposal for creditors, extension likely

12-06-2020 02:58 Government expected to deliver new proposal to bondholders on Friday, with likely deadline extension to follow.

DEBT RESTRUCTURING

Fernández says Argentina will improve its debt offer to creditors

11-06-2020 01:51 "The offer that we are going to make is not going to put at risk the sustainability of the debt and the Argentine economy," president declares in interview.

BLOOMBERG

Government mulls export sweetener to bridge gap with creditors

09-06-2020 18:13 Officials may offer warrants linked to agricultural exports to close the gap with top creditors in debt restructuring talks and the idea is gathering support among bondholders, Bloomberg reports.

DEBT RESTRUCTURING

Argentina's stock exchange surges as hopes build debt deal is close

08-06-2020 22:42 Buenos Aires Stock Exchange climbed to a record 48,881 points having also gained 19.3% last week. Reports speculate that the government will announce a day with creditors on Friday.

DEBT RESTRUCTURING

IMF remains 'hopeful' Argentina and creditors will agree debt deal

04-06-2020 16:48 "We are hopeful that an agreement can be reached that will restore the sustainability of the debt," IMF spokesperson Gerry Rice tells reporters.

DEBT RESTRUCTURING

Government, creditors move closer to a deal as deadline looms

30-05-2020 08:29 While still at odds over several key issues, the latest changes in the proposals by the government and two groups of creditors published Thursday signal the difference between both sides is narrowing.

DEBT RESTRUCTURING

Government improves debt offer, rejects counter-proposal

29-05-2020 02:41 Debt talks heat up: Government rejects one offer then makes another, offering to trim payment moratorium to two years instead of three. Guzmán says there's still "an important way to go" before a deal will be reached.

BLOOMBERG

Creditors submit new debt offer as deadline draws closer

28-05-2020 23:36 Two bondholder groups jointly submit proposal that focuses on providing the country with front-loaded cash flow relief in excess of US$36 billion over nine years.

BLOOMBERG

Default prompts a Paul Singer sequel in credit default swap decision

27-05-2020 16:30 Paul Singer's investment firm Elliott Management Corp is one of 14 companies that will decide whether credit-default swaps were triggered by last week’s failure to meet a payment deadline.

Bloomberg

New York lawmakers’ last-minute move may cost Argentina dearly

27-05-2020 15:29 Investors could sue the country for full repayment if debt restructuring discussions turn sour, and that’s when an expensive quirk of New York state law could become a big problem.

RATINGS AGENCIES

S&P, Fitch officially lists Argentina as in default

27-05-2020 00:34 Argentina’s ninth default on external debt is now official after Fitch and S&P cut bond ratings to default status.

BLOOMBERG

Government struggles to stop precious dollars draining away

26-05-2020 16:18 Foreign currency reserves dropped to a four-year low last week, totalling less than they did when the International Monetary Fund started its mega-loan programme with Argentina in 2018.

BLOOMBERG

Argentine bonds rise after default as investors await deal

26-05-2020 15:04 Bonds due in 2036 climb 2.3 cents to 33.2 cents on the dollar. Famed century bond follows suit, jumping 3.3 cents to also trade at 33 cents.

BLOOMBERG

Now in default, Argentina plans improved offer for creditors

26-05-2020 09:22 While bondholders now have the option to take Argentina to court to sue for full repayment, creditors said last week that legal action against the country would be counterproductive.

DEBT RESTRUCTURING

Debt renegotiations to continue – with confidentiality agreements

24-05-2020 18:22 Economy Ministry asks bondholders negotiating with it to sign a confidentiality agreement, after government extends deadline for talks to June 2.

DEBT RESTRUCTURING

Government to rework debt offer after missing interest payment

22-05-2020 23:05 Counter-offers submitted by bondholder groups are better than their original proposals, yet still far from what the country considers sustainable, says Martín Guzmán.

BLOOMBERG

Argentina faces ninth default with bondholder talks extended

22-05-2020 13:15 Argentina’s Ambassador to the United States Jorge Argüello publishes letter saying the government won't meet payment due today until a new agreement is reached with creditors.

DEBT RESTRUCTURING

Default looms for Argentina despite debt deadline extension

22-05-2020 13:15 Argentina was teetering on the brink of a second default this century on Friday as the deadline for a US$500-million bond interest repayment approached.

DEBT TALKS

Economy Ministry extends deadline for debt talks to June 2

22-05-2020 03:12 Government will miss US$500-million payment due today; Economy Ministry extends deadline for negotiations with creditors for 10 days.

DEBT RESTRUCTURING

'Any kind of default could be cured in short order,’ says creditor group

21-05-2020 13:39 While some kind of default in Argentina is likely, investors said a default wouldn’t be immediately followed by litigation because taking legal action amid the talks solves nothing.

DEBT RESTRUCTURING

Government to extend debt offer as talks continue past Friday

21-05-2020 13:23 Argentina will skip delayed US$500-million interest payment on Friday, but plans to extend talks by at least 10 days, sources say.