CDS buyer questions Argentina trigger

CDS buyer questions Argentina trigger

Bonds

A CDS holder has asked ISDA’s Determinations Committee to consider whether recent comments by the Argentine government should trigger a payout. Argentine finance minister Axel Kicillof last week said a Supreme Court ruling, which calls for the sovereign to make a $1.5bn payment to holdout creditors, made it “impossible” for Argentina to make a $900m payment to restructured bond holders due on June 30. That constituted a credit event under a repudiation or moratorium clause in CDS contracts, acco

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