Economy Minister Amado Boudou confirmed the swap on CER inflation-indexed paper in exchange for bonds with an interest rate linked to the Badlar rate is set to be launched on Friday.
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The debt-swap will target the Pre-9 bonds and the PR-12 bonds for about ARG$ 8.3 billion (US$ 2.15 billion) of debt.
Investors can exchange them for new Bocan 2014 bonds, which have with an interest rate linked to the Badlar rate plus a spread of 275 basis points.
In related news, Economy Minister Amado Boudou today said the International Monetary Fund (IFM) comes to Argentina in a bad moment, "because we barely need it". The statement was made during his speech at meeting of the Council of the Americas in Buenos Aires held at the Alvear Palace Hotel.
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