Argentina, Creditors Said to Look Past Deadline on Debt Deal
- Contingency instrument under consideration in private talks
- May 22 marks end of grace period for three sovereign bonds
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Argentina and its biggest creditors have begun ironing out possible revisions to the country’s $65 billion debt restructuring proposal before crucial bond payments come due later this month.
While both sides are pessimistic about reaching an agreement before Friday’s proposed deadline, behind closed doors they’re suggesting possible revisions to garner additional support if talks continue past it, according to people with direct knowledge of the matter, who requested anonymity because the talks are private.