Argentina's Economy Minister said on Tuesday that the fate of a $65 billion debt restructuring deal was now in the hands of creditors, though he expected opposition from a key bondholder group after the government unveiled its 'final' offer.
BUENOS AIRES - Argentina’s Economy Minister said on Tuesday that the fate of a $65 billion debt restructuring deal was now in the hands of creditors, though he expected opposition from a key bondholder group after the government unveiled its “final” offer.
The new government offer, which improved payment terms and ceded ground on disputed legal terms, drew early support from some creditors on Monday, helping propel sovereign bonds up 4% on hopes a deal could be struck. “We expect that there will shortly be a statement against it and that then they will take some time to decide,” Guzman told local Radio Con Vos, adding the government would consider closing a deal with “part” of its creditors.Argentine bonds climbed 0.8% on average on Tuesday, after having edged down earlier in the day.
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