Government House in La Plata, Buenos Aires Province. | Buenos Aires Times
Five weeks after being sued by creditors in a New York court, Buenos Aires Province says it is ready to return to the negotiating table.
Argentina s most-populous province, which has been in default for almost a year, said Monday it would invite its main creditors to a round of consultations to identify final improvements in its debt restructuring offer, and that after those talks it will announce a modified offer in the next few weeks, according to a statement posted on the regional government s website.
The return to the negotiating table comes after a group of creditors filed a lawsuit against the province in the in New York courts back in March, asking for more than US$366 million in unpaid principal and interest. The government in La Plata has extended the deadline for creditors to accept an initial debt proposal more than a dozen times, all of which have been roundly rejected by bondholders. The m
Statement of Ad Hoc Group of Buenos Aires Bondholders Regarding Expiration of Current Exchange Offer
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NEW YORK, April 22, 2021 /PRNewswire/ Members of the Steering Committee of the Ad Hoc Group of Buenos Aires Bondholders (the Group ), who filed claims on March 22, 2021 in the United States District Court for the Southern District of New York seeking judgment against the Province in respect of the Province s continuing default on scheduled payments of interest and/or principal under eleven series of Notes issued by the Province (the Notes ), take note of the forthcoming expiration of the Province s exchange offer relating to the Notes on April 23, 2021.