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Bonds News

UPDATE 1-Argentina debt swap offer to start May 7 in Japan

(Adds payment date, background)

TOKYO, April 30 (Reuters) - Argentina filed the terms of a debt swap of $20 billion in defaulted debt with regulators in Japan on Friday, paving the way for it to return to international finance markets for the first time in eight years.

The updated prospectus posted on Japan’s Financial Services Agency website said Argentina would start its swap offer for Japanese investors on May 7 and close the offer on June 7.

The prospectus showed the payment date of yen, euro and U.S. dollar bonds offered to Japanese investors would be Aug. 2, although it noted that any of the dates could be changed.

Argentina is trying to clean up $20 billion in past defaulted bonds and is offering the debt swap to bondholders who rejected a 2005 restructuring of a $100 billion debt default three years earlier. [ID:nN29240289]

Only a small percentage of the $20 billion in outstanding defaulted bonds is held by Japanese investors.

Government officials in Argentina have said the offer will launch on Monday in markets around the globe.

However, Japan’s financial markets will be shut from May 3 to May 5 for the national Golden Week holidays. (Reporting by Rika Otsuka; Editing by Joseph Radford)

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