Markets
Argentina to Swap Peso Debt to Ease $35 Billion Default Fear
- Economy Ministry to offer investors two swap options
- Massa seeks longer local bond curve with 2024, 2025 maturities
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Argentina will give investors the chance to exchange holdings of local debt into new bonds in a bid to ease fears of a default on the government’s $35 billion of local debt coming due in the second quarter.
Economy Minister Sergio Massa said the government would offer investors two swap options to exchange local bonds coming due between April and June. The government is seeking to build the local bond curve to 2024 and 2025, Massa said in a broadcast video statement.