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Argentina Bonds Climb as Investors See Headway in New Offer

Government proposes earliest principal payment in May 2025
Plan shortens payment moratorium to two years from three

Workers wearing protective masks work on the street in the Recoleta neighborhood of Buenos Aires, Argentina, on May 14,. — Workers wearing protective masks work on the street in the Recoleta neighborhood of Buenos Aires, Argentina, on May 14,.
Photographer: Sarah Pabst/Bloomberg

By

Ben Bartenstein,

Jorgelina Do Rosario and

May 28, 2020, 10:19 PM UTCUpdated onMay 29, 2020, 5:12 PM UTC

Argentina’s dollar bonds climbed to the highest in almost three months after the government released a revised debt restructuring offer in a bid to win creditors’ support.

The country’s $1 billion of notes due in July 2028 jumped to 35.9 cents on the dollar, the highest since early March. Other Argentine securities rallied as well.