Argentina’s government said on Sunday it had hired Lazard as financial advisor and Bank of America and HSBC as debt placement agents for the debt restructuring process it hopes to close by the end of March.
In a brief statement the Finance Ministry limited itself to disclosing the names of the financial institutions that will be intermediaries for the restructuring of close to $100 billion in public debt.
The operation is backed by the International Monetary Fund (IMF) and the talks are expected to continue from Monday in Buenos Aires.
The Edgar Lungu led PF Government has awarded a US$5 million contract to French company Lazard Freres for the provision of advisory services to the country in relation to the liability management of its debt portfolio.
Other bidders that included ABSA Bank and Barclays Bank PLC, Rothschild & Co, White Oak Advisory Ltd, Potomac and Deutch Bank have since been notified of the award of the tender to Lazard Freres.
Secretary to the Treasury Fredson Yamba stated in a statement issued last evening that Lazard Freres met all requirement under the Public Procurement Act of 2008. Lazard Freres is one of the world’s leading financial advisory and asset management firms, and advises on mergers, acquisitions, debt restructuring and capital ventures.
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