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Argentina Debt Offer Delays Most Principal Until Next Decade

  • Interest on new bonds won’t begin accruing until 2022
  • Terms of exchange still need to be approved by U.S. SEC
A commuter wearing a protective mask sits on an empty bus in Buenos Aires.

A commuter wearing a protective mask sits on an empty bus in Buenos Aires.

Photographer: Erica Canepa/Bloomberg

Argentina unveiled a proposal to restructure foreign bonds that would push back the majority of its debt payments to the next decade.

Holders of the country’s overseas debt are being offered a series of new securities of various maturities, none of which will accrue interest before 2022. No principal will be returned before 2026.