Although the negotiation has not yet closed, there was a very important advance over the weekend and this Monday, the sources trusted.
Meanwhile, Argentine ADRs rose as much as 13% while leading shares in the Buenos Aires Stock Exchange grew 4.6%, amid reports that the government would have improved the offer and creditors would have accepted a deal.
As Ámbito announced, there would be a counter offer from the bondholders. According to the formula still in development, the intention is to cut the tips between the 53% proposed by the Government and 56% of the latest proposal by creditors. The final percentage of Net Present Value (NPV) of the debt would be a balanced (slightly inclined towards the creditor side) 54%.
This number would be reached with a mix of increased payments by the country of about US $ 130 million per year in the period 2020/2030; and between $ 40 and $ 50 million between 2020 and 2024, depending on the combination of bonds taken. They will also demand that the Government extend the “anabolic” of the 2030 bond, but that it take into account an interest rate of more than 1% in dollars and 0.5% in euros offered by the last, and failed, offer by Martín Guzmán, assuming that the intention of the bondholders of a rate of 4.9% would not apply either.
Meanwhile, this Monday the Minister of Economy, Martín Guzmán He met with the President in the Olivos estate and then held a closed talk with members of the Frente de Todos where he agreed with the progress of the negotiations.
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