Buenos Aires province in talks with creditors to delay payment

Buenos Aires province has started talks with more than 10 groups and individual creditors as officials seek their blessing on a plan to delay a $250 million payment due this month. Owners of at least 75% of the securities must accept the proposal by Jan. 22 in order to change the terms of the notes, according to a filing. The uncertainty over whether the province will come up with the money has hit bondholders this week, reaching the lowest since mid-December.

Source: Bloomberg

Categories: Macroeconomy/Finance