Gesamtzahl der Seitenaufrufe

Sonntag, 26. Januar 2014

Noteholders intend to cede performance vultures if they enter the exchange // Deutsche Bank will be the entity to proceed with the operation

Fintech and Gramercy, among others

Noteholders intend to cede performance vultures if they enter the exchange

A group of Argentine bondholders eventually agreed to submit a proposal to the vulture funds to enter the swap reopened the country and give up their claims in U.S. courts.

was about twenty international investment funds with holdings near the 7000 million in debt securities of Argentina. 's announced intention is to cede NML vulture funds as Elliot and Dart a portion of restructured bond yields would charge between 2014 and 2018. return, the vulture funds should enter the swap debt , which was reopened by the Argentine government similar to those conducted in 2005 and 2010 conditions and relinquish their claims in U.S. courts. proposal is driven by Fintech and Gramercy funds, among others. narrow supply require achieving seen good between 75 and 85 percent of the holders of Argentine bonds. According to the announcements, Deutsche Bank will be the entity to proceed with the operation"A group of over 20 investment funds administered together almost 7 billion dollars in sovereign bonds of Argentina issued during swaps 2005 and 2010 gathered in an Ad Hoc Group to negotiate a consensual resolution intraacreedores with bondholders who were not restructured " , explained via a statement issued by the law firm Linklaters, responsible for the legal representation of the group. As noted, "for the Ad Hoc Group have achieved the support of nearly 30 percent of the holders of Argentine bonds without a financial adviser or any search program shows that there is a groundswell of support for a solution to this problem which has lasted a decade. " Now, from the proposal, must seek the approval of 75 percent of each series of bonds or 85 percent of total (with a minimum of 66 percent on each bond). Moreover, requiring the consent of the national government, which until now was not involved in the operation.

http://www.ambito.com/noticia.asp?id=725940

Keine Kommentare: