Argentina is reported to be close to convincing bondholders to accept a restructuring proposal that offers just over 30 cents on the dollar for over $100 billion of defaulted sovereign debt. If successful, the three-year negotiations will have secured by far the biggest debt write-off a defaulted sovereign has ever achieved.
Over recent months the tide has been shifting against Argentina’s initial plans to impose a 75% haircut on bondholders. Argentina had placed around 85% of the outstanding
The week on Risk.net, July 7-13, 2018Receive this by email