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Home»Finance»Argentina extends maturities of $16.8 bln debt to ease payment crunch
Finance

Argentina extends maturities of $16.8 bln debt to ease payment crunch

January 5, 2023No Comments1 Min Read
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BUENOS AIRES, Jan 3 (Reuters) – Argentina’s economic system ministry mentioned Tuesday it managed to increase the maturities of round 3 trillion pesos ($16.8 billion) in debt following a debt swap that noticed a whole lot of curiosity from banking entities.

The bonds, initially slated to mature within the first quarter of 2023, had been prolonged to totally different factors later this and subsequent 12 months, the ministry mentioned in an inside report.

The swap concerned 1.1 trillion pesos of debt due in January, 1.2 trillion due in February and a pair of trillion pesos due in March, with amortizations of 0.39 trillion pesos, 0.42 trillion and 0.6 trillion pesos, respectively.

That is the third swap operation in the course of the tenure of Economic system Minister Sergio Massa amid a extreme financial stoop fueled by excessive inflation estimated to have hit round 100% in 2022.

Banks taking part within the swap included non-public Banco Santander (BNCTF.PK), Galicia (GGAL.BA) and Macro (BMA.BA), amongst others.

The subsequent public sale of titles within the home market is scheduled for January 18.

($1 = 178.3600 Argentine pesos)

Reporting by Jorge Otaola; Modifying by Stephen Coates

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