SOVEREIGN DEBT RESTRUCTURING | MASTERCLASS

A deep dive masterclass on sovereign debt restructuring, to be conducted virtually by Asian high yield bond expert Florian Schmidt.

30 June 2022 (Thu), 5pm Singapore/HK time

Argentina’s largest province, Buenos Aires, faces lawsuits worth over $366mn related to unpaid principal and interest from bondholders. Two legal claims have been filed in the Southern District of New York after a proposal to restructure $7.1bn in overseas bonds has been rejected by one of the largest creditors, GoldenTree Asset Management. Creditors are demanding unpaid interest for $133mn and unpaid principal for $233mn. Amundi Asset Management, Beauregard Holdings LLP, Greylock Global Opportunity Master Fund, and GoldenTree Asset Management are amongst the funds taking legal action. “Whether this new suit actually strikes fear into the PBA team or not will depend on the parallel negotiation around GoldenTree’s counterproposal,” said the chief investment officer at Portfolio Personal Inversiones in Buenos Aires, Walter Stoepplewerth.

Buenos Aires unsecured bonds were slightly up, its USD 9.625% 2028s up 4.07 to 41.154, yielding 30.22% and it´s EUR 5.375% 2023s up 3.46 to 36.045, yielding 80.19%.

For the full story, click here

Show Buttons
Hide Buttons