Tag: buenos aires

DHL opens $ 350 mn distribution centre in Buenos Aires

DHL Global Forwarding, the division dedicated to air and maritime transport within the German logistics company DHL, opened Parque Ciudad, a new distribution centre in Buenos Aires city with a 15,422 square meters warehouse. The project started in mid-2019 is already 60% complete and contemplates a total investment of $ 350 million over a period of three years.

BA province averts default and pays $277mn for BP21 bonds

Buenos Aires province will not default and will pay this week $250 million capital plus $27 million interest of bond BP21 originally due on Jan. 26, Governor Axel Kicillof said. The announcement came after failure of negotiations for getting agreement with 75% of bondholder over a delay until May 1, being Fidelity Investments the main group opposed to the deal. The province will use own resources to make payments.

Buenos Aires real estate market suffers its worst year in history

The real estate market of the city of Buenos Aires fell 41.6% and that of the province 30% in 2019 compared to the previous year, due to a virtual disappearance of bank credit and macroeconomic instability, reported the Colegio de Escribanos (Notary Council). In the federal district 33,411 deeds were registered, the lowest figure in the historical record since 1998. In the province, there were 83,627, the lowest number in the last 14 years.

Argentine bonds fall as BA province extends creditor deadline

Argentine bonds dipped on Wednesday as the provincial government in Buenos Aires was forced to extend until Jan. 31 a deadline for creditors to agree or reject a plan to delay a $250 million bond repayment originally due on Jan. 26. Prices for Argentina’s over-the-counter (OTC) bonds were down on average around 1.3%, while Buenos Aires bonds fell across the board, led by a 3.5 point drop in the 2021 bond.