Region:
America
Category:
Economy

Argentina Offers Holdout Creditors $6.5 Billion

Region:
America
Category:
Economy
Publication date:
Print article

Country’s first formal offer to bondholders proposes paying 75% of what they claim they are owed

Argentina moved a step closer to ending a 15-year stalemate that has stymied its ability to borrow abroad, making an offer Friday to U.S. holders of its defaulted government debt.

The proposal is to pay 75% of what creditors in U.S. court have claimed they are owed, in line with what analysts had expected. Argentine officials say a payment would come to about $6.5 billion.