Argentina Files Amended Debt Offer With SEC, Extends Deadline

Argentina filed its amended debt offer to restructure $65 billion of bonds with the U.S. Securities and Exchange Commission and extended the deadline for investors to accept until Aug. 28.

The move is the next formal step in Argentina’s bid to move on from its latest default and lay out a “sustainable” path of debt payments. South America’s second-biggest economy will contract for a third-straight year in 2020 with the coronavirus pandemic keeping large swathes of the country on lockdown.

After months of wrangling with creditors, Argentina said Aug. 4 that it had reached an agreement with the largest bondholder groups. The accord would push out principal payments and give investors about 55 cents on the dollar, depending on the maturity of the notes.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.