BUENOS AIRES: Argentina will extend the deadline for its proposed bond restructuring beyond Aug. 24 and plans to submit its amended offer to US securities regulators next week, a source with direct knowledge of the situation told Reuters.
Bondholders will have 10 days to decide on the offer once it is submitted. The previous deadline for accepting the deal was Aug. 24. That schedule implied the government would issue a decree formalizing the offer and file with the US Securities and Exchange Commission on Friday.
"The decree will not be finalized today, but early next week," said the source, who is familiar with the government's thinking and asked not to be named as the process is confidential.
Monday is an official holiday in Argentina. "The next working day is Tuesday. The 10-day period will be met and in no case will the extension of the offer period go beyond August," the source said, adding that last-minute "mechanical work" remained to be done on the decree before the offer can be presented to the SEC.
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