This is the so -called Green Bonus aimed at financing the Arauco wind farm, expiring in 2028, issued by a total of US $318.4 million and with an annual yield of 8.50 %.
The province of La Rioja failed again on Monday another payment of debt to private creditorswith which he hopes to reach a restructuring agreement of the liabilities, official sources reported. This way The international default continues the so -called green bonus destined to finance the Arauco wind farmexpiring in 2028, issued by a total of 318.4 million dollars and with an annual yield of 8.50 %.
In a note sent to the markets, the Ministry of Finance and Provincial Finance reported that “Capital and interest will not be made” of international bonds expiration in 2028, “Since it is in the process of negotiating with the creditors for restructuring their debt.”
“The defaul has no date. It closes when an agreement is reached,” said a high source of the provincial government as reported “Virtual Rioja”, while Governor Ricardo Quintela claims about US $ 700 million to La Nación, said this media .
“To the extent that there are news regarding the negotiation between the province and the holders of the titles, we will comply in informing it properly.”add the official note.
Renegotiation and demand
La Rioja, with non -payment, seeks to force a decrease in interest to a reprogramming of payment deadlines. This situation generated in August 2024, that holders of these bonds introduced a lawsuit in a court in the Southern District of New York.
The province has breached in the last year several maturities of these bonds, claiming that crossed “unprecedented” economic challenges, in the difficult macroeconomic scenario for the adjustment launched in the late 2023 by the government of Javier Milei.
These bonds, issued under New York legislation, initially expired in 2027, but their term was extended within the framework of a debt restructuring process with private creditors completed in 2021, after the Rioja fell into paying ceases in 2020 .
Source: Ambito
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