What's new
US Message Board 🦅 Political Discussion Forum

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Argentina’s largest oil group poised to avert $6.2bn debt default

Disir

Platinum Member
Joined
Sep 30, 2011
Messages
27,372
Reaction score
9,218
Points
910
Argentina's largest oil company is poised to avoid defaulting on $6.2bn of debt after YPF reached an agreement with its most combative creditors on Sunday, according to two people close to the negotiations, in a last-minute reprieve for the country’s struggling energy sector. Private creditors including Fidelity, Ashmore and BlackRock — which are still smarting from Argentina’s sovereign debt restructuring last year — had rejected YPF’s initial restructuring offers. However, after a weekend of intense negotiations following YPF’s failure to secure sufficient acceptance of its restructuring offer by Friday’s deadline, a person close to the company confirmed on Sunday night that enough investors holding YPF’s bond maturing in 2021 had agreed to roll over a critical $413m interest payment due on March 23.

Over 50 one on one conversations. FFS.
 

USMB Server Goals

Total amount
$0.00
Goal
$350.00

Most reactions - Past 7 days

Forum List

Top