Financial and Banking News


Argentina Secures Favorable Terms on $34bn Deal

Argentina signed a $34bn loan package with some 300 of its creditors on 21 August which gives it access to new money and reschedules some 55% of its total foreign debt for 19 years. The package comprises three main parts. The first is a $30bn rescheduling of public and private sector foreign commercial bank debt. The restructured debt carries a 0.8125% (13/16%) spread over Libor and has a...