Argentina Eases 60% Of June Debt Burden in Local Swap
- Treasury reduced maturities with support from public holders
- Argentina must still raise some 248 billion pesos in auction
The Ministry of the Economy in Buenos Aires, Argentina, on Friday, Feb. 25, 2022.
Photographer: Sarah Pabst/BloombergThis article is for subscribers only.
Argentina exchanged more than half of its local debt obligations due at the end of the month in a swap that drastically reduces pressure on the government to meet a key rollover tender next week.
The Economy Ministry exchanged 358 billion pesos ($2.9 billion) in local securities due at the end of the month for new notes maturing later this year, according to an emailed statement. The exchange amounted to around 60% of more than 600 billion pesos of local debt due on June 30.