Argentina said on Aug. 31 that it had obtained creditor approval to exchange around 99% of the total outstanding principal amount of eligible bonds in its restructuring of roughly $65 billion of foreign debt.
The government released the initial terms on April 21 and then officially amended and reformulated them on Aug. 17. Together with a separate restructuring of local-law dollar debt, the deal will reduce Argentina's financial burden by $38 billion between 2020 and 2030, according to the government. It will help reduce average interest payments on foreign-law bonds from 7% to 3%.
Source: Loan Digest (loandigest.net)
ReutersBiz Three_Guineas ...again.
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