News of ad hoc creditors

Argentina to use Paris Club grace period to further debt talks

31-05-2021 11:04 Government to hold off on US$2.4-billion debt payment with Paris Club due Monday and will instead use a 60-day grace period to try to reach an agreement with the group and avert default.

Paris Club to spare Argentina from US$2.4-billion debt default

14-05-2021 13:58 Group of major creditor nations willing to delay US$2.4-billion debt payment from Argentina due this month if the Fernández administration agrees to certain conditions.

YPF avoids March default with 60% support for key bond swap

12-02-2021 01:11 YPF SA swaps almost 60% of a key bond due in March, saving the company millions of dollars in debt payments and avoiding a costly default next month.

YPF wins support of key creditor group for 2021 bond swap

08-02-2021 15:07 State energy firm YPF SA has won support of a key creditor for its debt restructuring bond-swap deal after improving its offer.

Creditors blast Argentina for post-restructuring bond blow-up

22-10-2020 22:22 Argentina Exchange Bondholders group and the Argentina Creditor Committee rip government for mismanaging the economy, saying country is headed for disaster just seven weeks after restructuring US$65 billion in debt.

El-Erian: Argentina and Ecuador diverge after bond restructurings

11-10-2020 09:18 A month after finalising historic “zoom” debt restructurings, Argentina and Ecuador find themselves on starkly different paths toward economic and financial improvements.

A new low for the Lower House

05-09-2020 09:15 Monday was a big day for Alberto Fernández’s Peronist government, as it heralded its debt deal with foreign creditors. But the joy lasted only a day and celebrations were all but buried by news in Congress.

by Martín Gambarotta

Guzmán says Argentina must work to cut bond yields

04-09-2020 17:53 Country must reduce its bond yields before returning to international capital markets in a process that will likely take some time, says Economy Minister Martín Guzmán in interview.

Creditors reiterate support for Argentina’s debt restructuring offer

18-08-2020 16:08 Two of three main bondholder groups confirm they will accede to revised proposal, which was filed with the US Securities and Exchange Commission on Monday.

Government files official debt offer with SEC, extends deadline

17-08-2020 14:50 Amended debt restructuring offer filed with US Securities and Exchange Commission, extending deadline for investors to accept until August 28.

Debt deal sealed, but Argentina’s economic woes remain

08-08-2020 09:36 Experts say deal with bondholders ‘takes pressure off’ the government, but warn renegotiating terms of US$44-billion loan with IMF is now the urgent concern.

What we learned this week: August 1 to August 8

08-08-2020 09:31 Stories that caught our eye over the last seven days in Argentina

Government seeks to reach new IMF agreement before April

07-08-2020 00:49 Government seeks deal with the International Monetary Fund over a new financing programme before the end of March, in order to renegotiate US$2-billion payment owed to the Paris Club that matures in May.

Support – and silence – from opposition economists in wake of debt deal

05-08-2020 00:31 Luis Caputo the most effusive in celebrating the government's deal with creditors, while Hernán Lacunza and Lucas Llach also express support. Alfonso Prat-Gay, the former official who was most critical of the deal, leads the criticism.

by Andrés Fidanza

Government hails ‘significant debt relief’ in accord with creditors

04-08-2020 09:44 Deal involves the Ad Hoc, Argentina Creditor Committee and Exchange Bondholder groups, as well as "certain other significant holders," Economy Ministry confirms in a statement.

Argentina reaches US$65-billion debt restructuring deal with creditors

04-08-2020 08:59 Government says in a statement that deal with key creditors would provide “significant debt relief.” While it statement didn’t provide a net-present value for the agreement, sources say the deal is worth about 54.8 cents on the dollar.

Government to seek new IMF plan, regardless of outcome of debt talks

28-07-2020 14:43 Argentina will seek a new programme with the IMF whatever the outcome of talks with bondholders, says Economy minister Martín Guzmán.

Creditors once again reject government's debt restructuring offer

28-07-2020 14:36 In a letter sent to Economy Minister Martín Guzmán, signed by 30 funds, main bondholder groups reiterate rejection of deal on table and say they hold veto power over any agreement.

Debt deal at impasse as creditors unite to reject government's offer

20-07-2020 23:50 Three groups of creditors announce they have rejected Argentina's proposal to restructure US$66 billion of debt and delivered a counter offer to government – which President Alberto Fernández promptly dismisses out of hand.

Creditors join forces to demand better terms on debt deal

20-07-2020 21:54 Three largest creditor groups join forces in negotiations, rejecting government's "final" offer and submitting their own counter proposal.