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11/05/2020 17:07 - RSF
Argentina says "many" holders accepted debt deal but important creditors rejected it
BUENOS AIRES, May 11 (Reuters) - While "many" bondholders accepted Argentina's bond restructuring offer, the proposal was rejected by important creditor groups, the economy ministry said inn a statement on Monday.
Early in the morning the government announced it will extend negotiations over a $65 billion debt restructuring proposal until May 22, setting the stage for tense last-ditch talks as the South American nation races to avoid default.
"While many of our bondholders supported Argentina's invitation, other significant groups of creditors did not," said the statement, which was released at midday.
Among the creditors that rejected Argentina’s offer, several indicated that there are better alternatives that can be reconciled with the objectives that the government has set for itself, the statement said.
"We remain open to discussing all contributions designed to help Argentina achieve its goals and at the same time enhance creditor recoveries," the statement said.
(Reporting by Hugh Bronstein Editing by Chizu Nomiyama)
(([email protected]; 5411 4318 0655; Reuters Messaging: [email protected]))
Argentina says "many" holders accepted debt deal but important creditors rejected it
BUENOS AIRES, May 11 (Reuters) - While "many" bondholders accepted Argentina's bond restructuring offer, the proposal was rejected by important creditor groups, the economy ministry said inn a statement on Monday.
Early in the morning the government announced it will extend negotiations over a $65 billion debt restructuring proposal until May 22, setting the stage for tense last-ditch talks as the South American nation races to avoid default.
"While many of our bondholders supported Argentina's invitation, other significant groups of creditors did not," said the statement, which was released at midday.
Among the creditors that rejected Argentina’s offer, several indicated that there are better alternatives that can be reconciled with the objectives that the government has set for itself, the statement said.
"We remain open to discussing all contributions designed to help Argentina achieve its goals and at the same time enhance creditor recoveries," the statement said.
(Reporting by Hugh Bronstein Editing by Chizu Nomiyama)
(([email protected]; 5411 4318 0655; Reuters Messaging: [email protected]))
