Argentina Improves Debt Offer in Latest Move to Reach Deal
- President says new proposal represents ‘maximum effort’
- Latest offer comes after talks with top creditors broke down
Alberto Fernandez
Photographer: Juan Mabromata/AFP via Getty Images
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Argentina presented an improved debt offer to restructure $65 billion of foreign bonds in an attempt to reach a deal with its creditors after more than two months of stalled talks.
The proposal seeks to reduce creditor losses on the bonds’ principal, increase coupons and shorten bond maturities, according to a release published Sunday evening. The latest proposal will include minimum participation thresholds as a condition to go forward, according to the release, without disclosing the percentages needed.