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Argentine province of Buenos Aires extends debt swap until May 7: official

BUENOS AIRES, Apr 26 (Reuters) – Argentina’s Buenos Aires province said on Monday that it extended the filing period to swap its debt under foreign law until May 7, a statement released by PR Newswire said.

The province is seeking to trade about $ 7 billion in bonds amid a prolonged high-inflation recession, which was exacerbated by the coronavirus pandemic.

This month, members of the Ad Hoc Group of Buenos Aires bondholders filed a lawsuit against the country’s largest province in the Court for the Southern District of New York for the “continued default on scheduled payments of interest and / or principal. “of their titles.

In its latest improvement to the exchange proposal, the province eliminated a capital reduction, coupons were improved and the average life of the bonds was reduced.

The Province has engaged BofA Securities, Inc. and Citigroup Global Markets Inc. to act as dealer managers for the Invitation and DF King is acting as exchange, tabulation and information agent.

(Reporting by Walter Bianchi; Edited by Maximilian Heath)

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