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Argentina May Complete $18.3 Bln Bond Swap This Wk
Market News International
June 21, 2010

BUENOS AIRES, MEXICO CITY and SAO PAULO, June 21 (MNI) - Argentina this week may announce the final results of an $18.3 billion swap of defaulted bonds, with the goal to reach 60% acceptance from creditors, but it is also possible the deadline may be extended.

The bondholders have tendered around 56% of the debt, with mostly individuals still holding out, in particular those in Italy that hold about 16% of the defaulted bonds.

The swap tentatively ends this, following an extension from the original closing date of June 7.

Economy Minister Amado Boudou last week told El Cronista, a newspaper in Buenos Aires, the swap could be extended a second time.

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