Argentina state oil company YPF said Thursday that almost 60% of its bondholders accepted its latest debt swap proposal, putting it on a firm course to avoid a costly default. YPF forced a renegotiation of its debt with creditors in January amid sharp restrictions on dollar payments imposed by Argentina’s central bank. The state oil company looked headed for a deal earlier this week after a key bondholder group signaled approval for the plan (OD Feb.8’21).
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