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Ad Hoc Group of Bondholders of the Province of Buenos Aires Rejects False and Misleading Statements by Province s Finance Minister
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Members of Bondholder Group Sue Province of Buenos Aires in U S District Court in New York
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Members of Bondholder Group Sue Province of Buenos Aires in U S District Court in New York
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RIO DE JANEIRO, BRAZIL - Argentina’s Buenos Aires province, which owes US$7 billion in foreign debt to a group of creditors, could face harsh repayment terms if it does not urgently address defaults, the group of creditors said on Friday, January 29th.
Since an offer in April was rejected by bondholders, the province has repeatedly pushed deadlines for talks with the group. Meanwhile, Argentina’s federal government recently revamped almost $110 billion in foreign currency bonds.
The Steering Committee of the Ad Hoc Group of Buenos Aires Bondholders said on Thursday it was concerned by a “continuing absence of . . .
By Reuters Staff
(Adds statement from provinces)
BUENOS AIRES, Jan 29 (Reuters) - Argentina’s Buenos Aires province, which owes $7 billion in foreign debt to a group of creditors, could face harsh repayment terms if it does not urgently address defaults, the group of creditors said on Friday.
Since an offer in April was rejected by bondholders, the province has repeatedly pushed deadlines for talks with the group. Meanwhile, Argentina’s government recently revamped almost $110 billion in foreign currency bonds.
The Steering Committee of the Ad Hoc Group of Buenos Aires Bondholders said on Thursday it was concerned by a “continuing absence of progress in curing the Province’s long-standing payment default on its outstanding international bonds.”