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Argentinian bonds rose on Monday on hopes for a deadline extension.

May 13, 2020
Argentinian bonds rose on Monday on hopes for a deadline extension. Nevertheless, risks of the default are still high. 

Previously, we wrote that less than 20% of bondholders agreed on the first government's proposal of the distressed debt exchange. As a result,  Argentina changed the deadline from May 8 to May 22. If the agreement is not reached, the sovereign will enter hard default on May 22. 

Although the country warned it doesn't have funds to pay the outstanding bonds, there is a chance parties will agree on better conditions. Before, Argentina proposed a three-year grace period on all debt payments. 

The Province of Buenos Aires also prolonged the deadline on its debt exchange from May 11 to May 25. Notwithstanding, the province is expected to enter hard default this week on its 9.625% 18apr2028 bond. 
  • Status
    outstanding
  • Country of risk
    Argentina
  • Redemption (put/call option)
    *** (***)
  • Amount
    400,000,000 USD
  • М/S&P/F
    — / — / —
  • Full name
    Province of Buenos Aires
  • Registration country
    Argentina