Argentina - Past Due Interest Bonds (1993)
Past Due Interest Floating Rate Bonds (1993)
Floating Rate Past Due Interest Bonds issued under the Argentine Brady Plan. The bonds are not eligible for tendering in Argentine privatizations. The bonds were issued in Bearer and Registered securities form. Argentine Past Due Interest bonds consist of the following structure:
Interest payments through December 31, 1991
- Accrued and unpaid interest on principal
- Interest on interest accrued and unpaid
- Interest on principal
Interest payments starting in 1992
The 1992 Argentine Financing Plan, permitted Argentina to exchange PDI for the following package:
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USD $400 million in cash
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USD $300 million Medium Term Argentine Zero Coupon bonds fully collateralized by US government obligations
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USD $9.8 billion in floating rate, non-collateralized, USD denominated, amortizing bonds.
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Issuer:
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The Republic of Argentina
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Maturity:
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March 31, 2005
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Coupon Rate (p.a.):
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6-month LIBOR + 13/16% [81.25bp]
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Coupon Freq:
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Semi-annual
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Coupon Payment Dates:
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March 31 and September 30
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Day Count:
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Actual/360
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Issue Date:
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April 7, 1993
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Issue Size:
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USD 9,811,425,000
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Outstanding Amount:
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USD 9,811,425,000
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Amortization:
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19 unequal semi-annual payments after 3 years' grace period.
Payments 1-7 [1%] Percent of Principal Payments 8 [5%] Percent of Principal Payments 9-19 [8%]Percent of Principal |
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Par Amount:
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100.00% @ May 1, 1995
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Call Option:
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Callable at par with accrued interest on coupon dates if no default.
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Currency:
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USD
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Guarantor
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None
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Form:
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Registered for FRBs issued in US
Bearer for non-US issue |
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Denominations:
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USD $250,000 and integral multiples of $1,000
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Credit Rating:
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Moody's: B2
S & P's: BB- |
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Principal Collateral:
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None
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Interest Payment Collateral:
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None
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Settlement:
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US: physical delivery
Non-US: Euroclear/CEDEL, physical delivery |
FR PDI Bearer Bonds
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Listing:
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Luxembourg
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Paying Agent:
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Citibank
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Bloomberg Ticker:
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ARGENT
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CUSIP:
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TT3106925
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ISIN:
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XS0043120236
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Common Code:
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004312023
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Valoren:
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070434
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Sedol 1
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4025140
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FR PDI Registered Bonds
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Listing:
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Luxembourg
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Paying Agent:
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Citibank
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Bloomberg Ticker:
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ARGENT
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CUSIP:
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TT3168016
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ISIN:
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XS0043120582
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Common Code:
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004312058
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Valoren:
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070435
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