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LatinNews Daily - 30 March 2021
In brief: Argentina’s Buenos Aires extends debt restructuring deadline
*Argentina’s Buenos Aires province has announced that it will extend the deadline for its US$7bn foreign debt restructuring offer until 23 April. The announcement comes amid growing tensions with creditors after a group of bondholders last week sought a judgment in a US District Court over the province’s failure to make debt payments which date back to April 2020. A statement by the Buenos Aires province finance ministry said that despite the decision by the group of bondholders to take legal action, the province remained “committed to a negotiation in good faith to reformulate the terms and conditions of the eligible bonds”. On 21 March the Buenos Aires provincial government said it had amended its restructuring proposal to creditors but this had been rejected by one of the province’s largest creditors, GoldenTree Asset Management, a plaintiff in the lawsuit.
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