Axel Kicillof admitted that he still needs to reach 75% membership and pointed against a bond fund

02/03/2020 - 10:28

• Clarín.com
• Politics

After presenting a new improvement of the offer to the creditors of the BP21 bond to postpone until May a maturity of capital for 250 million dollars, the Buenosairean governor, Axel Kicillof, admitted that the adhesion of an important fund is still lacking to reach the necessary 75 % that requires negotiation.

" There is a fund that has a significant amount and is not showing the same degree of adherence and help in the constructive dialogue and in good faith we had. What we are waiting for is to accept the proposal," said the president.

In that sense, he stressed that there was "an acceptance of a significant amount" of bondholders to the new proposal presented this Monday and said: "The general understanding on the part of bondholders is that the scheme that owns the debt of the province is not of no coping or sustainable way. "

"A watchmaking job was done calling each of the holders, tracking them. And the small holders got support that was thought to be very difficult to reach 75%. The group that has given its support is the most significant ", completed the governor, who said they have time to respond until Tuesday at 6.

This Monday, the Province of Buenos Aires offered to the creditors of the BP21 bond to pay 30% of the capital that expired on January 26 and postpone the rest of the debt. And shortly before 9, it was confirmed that the main group of creditors accepted the offer, which moves the ghost away from the default.

JPE