Aug 7, 2014

Argentina bonds, stocks firm on possible deal to exit default

BUENOS AIRES, Aug 7 (Reuters) – Argentine bond prices and
stocks firmed on Thursday, with news that international banks
may be close to a deal to buy debt from holdout creditors that
would resolve its debt crisis.

The creditors are considering an offer from Citigroup,
JP Morgan, HSBC and Deutsche Bank of
80 cents on the dollar for their roughly $1.66 billion of
Argentine debt, Thomson Reuters IFR reported on Wednesday.

Aug 7, 2014

Argentine bonds and stocks firm on possible deal to cure default

BUENOS AIRES, Aug 7 (Reuters) – Argentine bonds and stocks
extended gains on Thursday, with news that international banks
may be close to a deal to buy debt from holdout creditors,
bolstering investor optimism that Latin America’s No.3 economy
would soon cure its default.

The creditors are considering an offer from Citigroup, JP
Morgan, HSBC and Deutsche Bank of 80 cents on the dollar for
their roughly $1.66 billion holdings of Argentine debt, Thomson
Reuters IFR revealed on Wednesday.

Aug 1, 2014

Argentina skeptically awaits debt default court hearing

BUENOS AIRES, Aug 1 (Reuters) – Argentina’s government said
on Friday it expected nothing favorable to come out of a court
hearing in New York later in the day in its debt default case,
as the country’s domestic markets looked to optimism for an
eventual deal.

Latin America’s No. 3 economy defaulted on its debt for the
second time in 12 years after failing to cut a deal with holdout
creditors suing it for full payment on bonds bought at a steep
discount after a $100 billion debt default in 2002.

Aug 1, 2014

Argentine markets fall post-default, New York hearing on Friday

BUENOS AIRES (Reuters) – Argentina’s bond and stock markets and peso currency dropped on Thursday after Latin America’s No. 3 economy defaulted for the second time in 12 years following the collapse of last-ditch talks with holdout creditors.

The default came after Argentina failed to strike a deal with lead holdout investors NML Capital Ltd, an affiliate of Elliott Management Corp and Aurelius Capital Management, in time for a midnight Wednesday EDT (0400 GMT) payment deadline.

Jul 31, 2014

Argentine markets fall post-default, NY hearing on Friday

BUENOS AIRES (Reuters) – Argentina’s bond and stock markets and peso currency dropped on Thursday after Latin America’s No. 3 economy defaulted for the second time in 12 years after the failure of last-ditch talks with holdout creditors.

The default came after Argentina did not strike a deal with lead holdout investors NML Capital Ltd, an affiliate of Elliott Management Corp and Aurelius Capital Management, in time for a midnight Wednesday EDT (0400 GMT) payment deadline.

Jul 31, 2014

Argentina defaults but investors see deal possible eventually

BUENOS AIRES, July 31 (Reuters) – Argentina defaulted for
the second time in 12 years after last-ditch talks with what it
called “vulture” creditors failed, as focus turned to whether
big banks and funds would request the declaration of a “credit
event”.

After a long legal battle with hedge funds which had
rejected Argentina’s debt restructuring following a 2002
default, Latin America’s third-biggest economy failed to strike
a deal in time to meet a midnight U.S. eastern time (0400 GMT)
payment deadline.

Jul 31, 2014

Argentina fails to reach debt agreement, default imminent

BUENOS AIRES/NEW YORK, July 30 (Reuters) – Argentina faces
its second default in more than 12 years after talks with
holdout creditors failed on Wednesday.

The country’s economy minister, Axel Kicillof, speaking at a
news conference at the Argentine consulate in New York,
repeatedly referred to the holdout hedge funds as “vultures”
after two days of talks failed to produce an agreement.

Jul 31, 2014

Argentina fails to reach debt agreement, default looms

BUENOS AIRES/NEW YORK (Reuters) – Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors ended without a settlement on Wednesday.

The country’s economy minister, Axel Kicillof, speaking at a news conference at the Argentine consulate in New York, repeatedly referred to the holdout hedge funds as “vultures” after two days of talks failed to produce an agreement.

Jul 30, 2014

Argentine debt talks go down to the wire to avert default

BUENOS AIRES, July 30 (Reuters) – Argentina faced a race
against on time on Wednesday to avert its second default in 12
years, needing either to cut a deal by the end of the day with
“holdout” investors suing it or to win more time from a U.S.
court to reach a settlement.

Argentine Economy Minister Axel Kicillof hurried to New York
on Tuesday to join last-ditch negotiations, holding the first
face-to-face talks with the principals of New York hedge funds
who demand full repayment on bonds they bought at a discounted
rate after the country defaulted in 2002.

Jul 30, 2014

Time almost up for Argentina to avoid debt default

BUENOS AIRES, July 30 (Reuters) – Argentina faced a race
against on time on Wednesday to avert its second default in 12
years, needing to either cut a deal by the end of the day with
“holdout” investors suing it or win more time from a U.S. court
to reach a settlement.

Argentine Economy Minister Axel Kicillof scrambled to New
York on Tuesday to join last-ditch negotiations, holding the
first face-to-face talks with the principals of New York hedge
funds who demand full repayment on bonds they bought at a
discounted rate after the country defaulted in 2002.