Argentina Sets Stage for Debt Offer With $50 Billion Filing
- Nation registered new debt to be used in sovereign bond swap
- Bond traders are already bracing for severe pain to come
This article is for subscribers only.
Argentina registered to issue more than $50 billion in new debt as it prepares to make a painful restructuring offer to holders of its sovereign bonds.
The filing to the U.S. Securities and Exchange Commission gives an inkling of how much in new securities the country anticipates issuing in the restructuring. President Alberto Fernandez will meet provincial governors at 4pm Thursday at the presidential residence to discuss details of the debt plan, according to a person with direct knowledge of the matter. Earlier Wednesday, he told journalists who had asked for details on the plan that “tomorrow is the day.”