Córdoba will change terms on $150 mn notes with Moneda Asset Management

The municipality of Córdoba, the second most populated city in Argentina, has reached an agreement with Chile’s Moneda Asset Management to alter the terms on $150 million in 7.875% 2024 notes and asked other bondholders to adhere to the plan. The city government wants to extend the maturity by three and a half years and change the coupon from a fixed rate to a step-up rate that starts at 2.125% in September next year and rises to 7% by September 2027.

Source: Latinfinance.com