SanCor is negotiating with the BAF Capital investment fund, one of its biggest creditors, which aims to reincorporate the dessert and yoghurt business that would represent an injection in its monthly turnover of around $1 million. It's a simple way to ensure that the debt will repay. At the same time, they save logistics costs and can close deals with producers to buy raw materials.
In a joint statement, and for the first time, the three clubs of foreign debt creditors met to reject the last Argentine offer, make a counter-proposal. The legal aspects agreed upon between the country and the creditors. However, economic differences remain. The bondholders contemplate a coupon of 3.4% average and total debt relief of $ 35 billion in 9 years. The parity will be in the order of $56.5 for each bill of 100, taking an exit rate of 10%. The difference is about three dollars with the last Argentine offer of 53.5 dollars.
The province of Buenos Aires is changing its funding profile with a strategy to capture resources for specific areas: health and infrastructure programs. In the first semester, they obtained $124 million in financing lines with multilateral credit organizations. It estimates that this amount will rise to $285 million by 2020.
Businesses in the construction sector are among those most affected by the paralysis imposed by the pandemic. So far this month, only 45% of works, both public and private, have been maintained in regular activity, and in June more than 80% of construction companies received no building contracts.
The local production of biosimilar drugs has a very high strategic value for Argentina, which is a pioneer in Latin America. Since the introduction of the first biosimilar in Argentina in 2014, the national health system has had a cumulative direct saving of $65.7 million in treatment costs. Through the substitution of high-cost biological drugs for products of equal quality, with prices between 15% and 25% lower, they allow more patients access to therapies for chronic diseases, such as cancer or autoimmune diseases. More than 35,000 patients have received such treatments, and the number is growing.