RIO DE JANEIRO, BRAZIL - Argentina’s over-the-counter bonds closed down an average of 0.3% and traded at around 45-50 cents on the dollar, well below the 54.8 cents net present value (NPV) of the government’s proposal. The country’s risk index also edged up.
Following months of tough negotiations, Argentina made a breakthrough with creditors in early August on a deal and filed a new offer at the U.S. Securities and Exchange Commission on Monday, August 17th. Creditors now have until Aug. 28 to approve the deal.
The three main creditor groups who . . .