08/03/2020 - 14:43
- Clarín.com
- Economy
- Economy
The Argentine shares listed in New York showed a strong positive trend after 2 pm, after a version was installed in the financial market that the Government and the bondholders would have agreed on the offer value and thus successfully close the operation of exchange of debt in dollars issued under foreign law.
The papers from Galicia, Macro and Pampa, the most liquid in New York, had started the day with losses of up to 2%, but at 14:30 Argentine time they showed increases of between 8 and 10%.
For their part, dollar bonds, which had shown falls of 2%, were beginning to cut ground, as well as country risk, which improved from 2,316 points to 2,269 points.
In economics they were totally secretive.
The versions indicate that the meeting point between debtor and creditor had been set at an offer value, measured in net present value, of $ 54.3, that is, one dollar above the last value offered by Argentina.
That improvement came after leaking information that the previous offer, at $ 53.3, had reached only 35% of adhesions.
Legal issues related to collective action clauses (CAC) and their manipulation by the Government were also discussed, in order to comply with these demands.
News in development