LatinNews Daily - 23 February 2021

In brief: Argentina’s Salta seals debt restructuring deal

* The government of Argentina's Salta province has announced that it has reached an agreement with most of its bondholders to restructure US$350m worth of sovereign bonds. Salta launched a debt restructuring offer earlier this month that extended the maturity and reduced the interest rates of bonds issued in 2016 and maturing in 2024 to ease its short-term financial burden. In a statement, the provincial government announced that its offer has been accepted by 95.51% of bondholders, well above the 75% threshold required for the agreement to be binding. According to the statement, the deal means that the Salta government can save the US$252m debt service payments due this year. “Salta has managed to make its debt sustainable by reducing annual debt repayments… and extending maturities until December 2027”, the statement says.