Argentina YPF avoids March default with 60% support for key bond swap

(The Buenos Aires Times)

YPF SA swaps almost 60% of a key bond due in March, saving the company millions of dollars in debt payments and avoiding a costly default next month.

Argentina’s state-owned oil company, YPF SA, said Thursday it had swapped almost 60 percent of a key bond due in March, saving the company millions of dollars in debt payments and avoiding a costly default next month.