Argentina Has Deal With Domestic Bondholders to Swap $3.2 Billion in Peso Debt

Argentina's government has struck a deal with domestic bondholders to swap around 200 billion pesos ($3.2 billion) in local currency debt in a major planned auction on Thursday, the country's Economy Minister Martin Guzman told Reuters. The scheduled swap, which is offering new instruments that expire between 2021 and 2024 for others maturing up to this year, is part of Argentina's drive to gain more time to make payments amid a widespread debt crisis, the International New York Times reported on a Reuters story. "The goal is to roll-over a significant portion of the peso-debt at sustainable interest rates," Guzman said in comments to Reuters about the swap. "We expect to exchange about 200 billion of short term peso debt in this first round." Read more