Argentina has called off an offer to swap around $340 million of defaulted Brady bonds. The decision by the country comes after a U.S. Court of Appeals ruled that the conditions of the exchange offer could not be met.

The offer comprised $263 million in dollar-denominated bonds and $77 million of euro bonds, all due in 2023. Bondholder Communications Group was serving as the information, exchange and tabulation agent for the swap offer.

Click here for the release from Market Wire.