LatinNews Daily - 20 January 2020

* Argentina’s economy ministry has announced the launch of a bond swap offer for peso-denominated treasury bonds issued under Argentine law (Lecaps) worth Ar$146bn (US$2.4bn) that are due to expire in coming weeks. The government is offering to exchange Lecaps maturing in February and April for new bonds maturing in September and December. The operation is part of the government’s plans to ‘reprofile’ its debt and extend maturities to allow it more time to raise funds and avoid falling into default as it prepares to renegotiate its debt with creditors. A ministerial statement said that the new Lecaps will offer a variable rate of between 41.10% and 43.29% and invites eligible bondholders to “exchange their bonds for any of the two new instruments or a combination of both” from 20 January.

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