Argentina Trims Haircut

Argentina Trims Haircut

Corporate & Sovereign Strategy

Argentina is offering a deal to holdout institutional investors a deal that amounts to a 66.3% haircut, according to wire reports late Thursday citing economy minister Amado Boudou. Despite repeated claims that the deal would not be better for bondholders, the loss appears less severe than the original 2005 deal, in which the sovereign achieved a writedown of over 70%. The proposal excludes past payments on GDP warrants and pays PDI with 8.75% bonds due 2017, Bloomberg reports. Argentina also ma

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