After Argentine Province Buenos Aires reached a breakthrough agreement with GoldenTree Asset Management to restructure $7bn of its international debt, Government House in La Plata explained that the new proposal matched the terms that GoldenTree agreed upon. An expiration deadline was set for August 13. The results will be published on August 16 and its settlement is scheduled for August 20. The offer reduces total payments due by $4.5bn through 2024 and includes an average coupon of 5.6%. The earliest capital payment is set in March 2024 and the first interest payment is in September 2021. The bondholders that consent will receive 100% of interest accrued on existing notes, will see a payment of 10% in cash at settlement, and 90% capitalized into new notes. Creditors of eligible bonds will have the right to receive either new dollar-denominated bonds due 2037 “As” or new Euro-denominated bonds due 2035 “As”, whilst those who hold dollar-denominated 2035s and Euro-denominated 2035s can receive either new USD 2037 “Bs” or Euro 2037 “Bs”.