Clauses

Argentina Creditors Seek Foreign Backing on Debt Clauses

(Bloomberg) — Argentina’s creditors have approached several international organizations to seek endorsement for a proposal to change the rules that govern some of the country’s overseas securities, according to people familiar with the matter.

The International Monetary Fund, the U.S. Treasury, the International Capital Market Association and the Institute of International Finance are among the organizations that have been informally approached by bondholders, said the people, who asked not to be identified discussing a private matter.

While the groups have no formal say over how bond contracts are worded, the idea is that their buy-in would give Economy Minister Martin Guzman political cover to accept the changes, which bolster creditors’ rights by closing legal loopholes for Argentine bonds issued in 2016 and later. The changes to the indentures is a key point of negotiation in the final stretch of talks between Argentina’s government and major creditors including Blackrock Inc., Ashmore

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Argentina Creditors Seek International Backing on Debt Clauses

(Bloomberg) — Argentina’s creditors have approached several international organizations to seek endorsement for a proposal to change the rules that govern some of the country’s overseas securities, according to people familiar with the matter.

The International Monetary Fund, the U.S. Treasury, the International Capital Market Association and the Institute of International Finance are among the organizations that have been informally approached by bondholders, said the people, who asked not to be identified discussing a private matter.

While the groups have no formal say over how bond contracts are worded, the idea is that their buy-in would give Economy Minister Martin Guzman political cover to accept the changes, which bolster creditors’ rights by closing legal loopholes for Argentine bonds issued in 2016 and later. The changes to the indentures is a key point of negotiation in the final stretch of talks between Argentina’s government and major creditors including Blackrock Inc., Ashmore

Read More