Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  BlackRock, Inc.    BLK

BLACKROCK, INC.

(BLK)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Argentina Near $65 Billion Restructuring Deal With Bondholders

share with twitter share with LinkedIn share with facebook
08/03/2020 | 04:56pm EDT

By Ryan Dube and Andrew Scurria

Argentina's government is finalizing an agreement with its biggest private creditors to restructure about $65 billion in foreign debt and resolve the country's third sovereign default this century, according to people involved in the talks.

Argentina's biggest creditors, led by BlackRock Inc., agreed to accept new bonds in return for the debt they currently hold in a settlement worth nearly 55 cents on the dollar, these people said.

The tentative agreement came ahead of a Tuesday deadline set by Argentina for creditors to accept its offer. Officials at the Economy Ministry and president's office said they couldn't confirm an agreement.

"There is a handshake," said a foreign creditor involved in the negotiations. "The big guys caved."

Economy Minister Martín Guzmán recently said the government wouldn't improve the current offer and would start talks with the International Monetary Fund on refinancing its bailout from the lender if there wasn't a deal with bondholders.

"There is nothing to report at the moment," said a government spokesman.

If a deal weren't reached, Mr. Guzmán told newspaper Pagina12 on Sunday, the government would wait to return to talks with private creditors in six to eight months, "but with a deeper restructuring proposal."

Argentina owes $44 billion to the IMF, which says the country's debt is unsustainable.

Argentina defaulted in May for the ninth time in its history when it failed to make a $500 million interest payment.

Latin America's third biggest economy has been mired in a recession since a 2018 currency crisis as it grappled with double-digit inflation, one of the world's highest.

President Alberto Fernandez's cash-strapped government took office in December, pledging to restructure foreign debt that it says is unsustainable. Argentina's economy has been further hit by the coronavirus pandemic after authorities implemented a strict lockdown in March to slow the spread of the virus. The IMF expects Argentina's economy to contract almost 10% this year.

Alexander Gladstone and Dawn Lim contributed to this article.

Write to Ryan Dube at ryan.dube@dowjones.com and Andrew Scurria at Andrew.Scurria@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. -0.59% 534.94 Delayed Quote.9.57%
EURO / ARGENTINE PESO (EUR/ARS) 0.14% 88.2346 Delayed Quote.31.65%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.28% 75.77 Delayed Quote.26.11%
share with twitter share with LinkedIn share with facebook
All news about BLACKROCK, INC.
09/23IF ONLY. IS ABOVE-TARGET INFLATION W : Mike Dolan
RE
09/22Japan's SBI wants to shake up regional banks. It may get a Suga boost
RE
09/22Japan's SBI wants to shake up regional banks. It may get a Suga boost
RE
09/22BLACKROCK : reg; Canada Announces Change in Index of the iShares MSCI USA Moment..
AQ
09/22SOLVAY : - Participation notification by BlackRock Inc
AQ
09/22BlackRock, JPMorgan climate votes at odds as new rules loom
RE
09/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
09/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
09/21NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
09/21Financials Down As Investors Respond To Reports On Money Laundering -- Financ..
DJ
More news
Financials (USD)
Sales 2020 15 196 M - -
Net income 2020 4 388 M - -
Net cash 2020 1 107 M - -
P/E ratio 2020 18,8x
Yield 2020 2,70%
Capitalization 82 118 M 82 118 M -
EV / Sales 2020 5,33x
EV / Sales 2021 4,92x
Nbr of Employees 16 300
Free-Float 85,7%
Chart BLACKROCK, INC.
Duration : Period :
BlackRock, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BLACKROCK, INC.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 642,88 $
Last Close Price 538,54 $
Spread / Highest target 35,6%
Spread / Average Target 19,4%
Spread / Lowest Target 3,98%
EPS Revisions
Managers
NameTitle
Laurence Douglas Fink Chairman & Chief Executive Officer
Robert Steven Kapito President & Non-Independent Director
Robert L. Goldstein Chief Operating Officer & Senior Managing Director
Gary S. Shedlin Chief Financial Officer & Senior Managing Director
Derek N. Stein Global Head-Business Operations & Technology
Sector and Competitors
1st jan.Capitalization (M$)
BLACKROCK, INC.9.57%82 118
UBS GROUP AG-16.48%39 670
BANK OF NEW YORK MELLON CORPORATION (THE)-33.94%29 455
T. ROWE PRICE GROUP INC.0.86%27 894
STATE STREET CORPORATION-26.97%20 357
AMERIPRISE FINANCIAL INC.-12.74%17 481