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Stock impact report

Argentina sketches out debt revamp with $38 billion coupon cut, three-year payment halt [Reuters]

BlackRock, Inc. (BLK) 
Last blackrock, inc. earnings: 4/16 06:02 am Check Earnings Report
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Company Research Source: Reuters
Argentina sketches out debt revamp with $38 billion coupon cut, three-year payment halt BUENOS AIRES (Reuters) - Argentina sketched out its debt restructuring proposal to international creditors on Thursday, involving a three-year grace period, large coupon cuts and a smaller reduction in capital, as it looks to win over bondholders to a deal. Economy Minister Martin Guzman laid out the framework of the proposal, which would involve around $41.5 billion of relief, mostly in the form of reduced interest payments, as the country grapples with a biting recession and the coronavirus pandemic. The offer, which will be formally launched on Friday, is a key step in a long-running saga as Argentina has looked to revamp its heavy debt load after political upheaval and a market crash last year drove its bonds into distressed territory. The proposal includes a sizeable cut to interest payments, amounting to a saving of around $37.9 billion, or 62% of the current total. The average proposed new r Show less Read more
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