Argentina has received 80% approval in the Brady Bond swap, The Wall Street Journal reports. In exchange, the government will offer a basket of U.S. dollar-denominated bonds and a cash payment. The government is seeking to exchange nearly $330 million in the defaulted bonds to reduce 60% of its debt. It will also offer U.S. dollar and peso-denominated Discount 2033 bonds and GDP warrants as well as dollar-denominated Global 2017 bonds in exchange for the $6.1 billion of outstanding defaulted bonds.
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