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
    1. Accrued and unpaid interest on principal
    2. Interest on interest accrued and unpaid
    3. Interest on principal

Interest payments starting in 1992

The 1992 Argentine Financing Plan, permitted Argentina to exchange PDI for the following package:
    1. USD $400 million in cash
    2. USD $300 million Medium Term Argentine Zero Coupon bonds fully collateralized by US government obligations
    3. USD $9.8 billion in floating rate, non-collateralized, USD denominated, amortizing bonds.