Macroeconomy/Finance

What will happen to the 1% creditors who did not accept the swap?

Even though the government successfully closed its debt restructuring offer for about 63.5 billion dollars, in which it obtained a 93.55% adherence level that with the collective action clauses reached a 99% restructuring, it remains to define what will happen to those creditors that make up the 1% of those that did not enter into the exchange. These are holders of two small series of bonds for $600 million of the Par bond in euros 2010 and some $47 million of the Par bond in dollars 2010. The most logical thing to do is to pay them off, ruining the swap for $600 million makes no sense. They are low-coupon bonds that are not going to be a problem for the government, not even in terms of maturity because they are long term.

Source: Infobae

Categories: Macroeconomy/Finance