Banco de la Nación will fight Vicentin debt restructuring

Argentina’s biggest bank plans to oppose any attempt by Vicentin SAIC to restructure its $900 million of debt. Officials at state-owned Banco de la Nación have told Vicentin, one of the country’s biggest soybean exporters, the agricultural company must sell assets to pay down its obligations before seeking relief. Their viewpoint is key because the bank is the largest creditor for Vicentin, which last month missed a $350 million payment to farmers amid an economic crisis in the agriculture-dependent country.

Read more

Source: Bloomberg

Categories: Business, Industry