Buenos Aires province's bonds skyrocketed due to an agreement with bondholders
On Wednesday, Buenos Aires provincial government announced an agreement with main creditor GoldenTree Asset Management and other bondholders that will allow it to formally amend its current offer and move "towards the completion of the debt restructuring process."
The new offer would include a total shortage in debt service payments of some $4.45 billion between 2020 and 2024, while average payment coupons would be decreased to 5.6% and payment terms extended significantly.
Province's USD bonds skyrocketed yesterday.
Full nameProvince of Buenos Aires