Banco Hipotecario will pay $204 mn of debt with its funds

Yesterday, the debt swap for $279.8 million of Banco Hipotecario, the first company to carry out a restructuring since the Central Bank restricted the sale of foreign currency to only 40% of the capital owed, was completed. The institution will use its savings to face the $204.08 million it has to pay. Of the total to be paid, $56 million deposited in the country and the rest is abroad, so there will be a drop in the Central Bank’s gross reserves.

Source: La Nación