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LatinNews Daily - 06 July 2020
In brief: Argentina confirms ‘final’ improved offer to creditors
* Argentina’s economy ministry has announced that today (6 July) it will present before the US Securities and Exchange Commission (SEC) an amendment to its sovereign debt-restructuring offer, first tabled on 22 April. Argentine soverign bondholders will now have until 4 August to respond. In a statement, the ministry added the new bid is the “maximum and final” effort that Argentina can make. The offer includes value improvements such as coupon rate increases, capital reductions, and shorter maturities on some bonds, as well as adjustments to the terms and conditions on future bond offerings. Local media such as news site Infobae are reporting that the offer has positively surprised leading investment funds in New York City.
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