Economics
Argentina Bonds Gain on Optimism Over Restructuring Proposal
- Plan calls for 62% haircut on interest, 5.4% cut in principal
- Proposal also seeks three-year moratorium on payments
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Argentine bonds gained after the government unveiled the outlines of a restructuring proposal that offered better terms than investors had anticipated.
The country’s $4.5 billion of international notes due next year jumped the most since August, climbing 2.9 cents to 33 cents on the dollar Friday. Other notes from the country rallied as well.