Jan
31

Argentina Agrees to Borrow $5 Billion From Wall Street Banks

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  • Country’s loan being backed by local sovereign bonds
  • Argentina is set to resume talks with holdout creditors Feb. 1

Argentina’s central bank reached terms with seven Wall Street banks for $5 billion of loans as the government looks to bolster reserves ahead of talks with holdout creditors next week.

The one-year loan, finalized Friday, will be backed by sovereign bonds, according to an e-mailed statement from the central bank.

Argentina Agrees to Borrow $5 Billion From Wall Street Banks

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