Many of the holdouts are "before default buyer", who have bought - TopicsExpress



          

Many of the holdouts are "before default buyer", who have bought their bonds at an average of 100% or even over. The planned swap III is unacceptable and a pure expropriation. It is even worse, than the swaps of 2005 an 2010, because the GDPs would not be payed since 2005. This would be an acceptable solution for the Holdouts and probably also for Argentina: I want the capital of my bonds back to 100% on 01/01/2015 (the end of "Rights Upon Future Offers (RUFO)") What could be negotiable, are the outstanding interest between 2002 and 2014. The U.S. Supreme Court should as soon as possible (hopefully on 09/30/13) reject the Argentine complaint, and order immediate negotiations between Argentina and the Holdouts. The Argentine government and the holdouts should make still this year a binding agreement with respect to the "time after" (end of the "Rights Upon Future Offers (RUFO)” clause) with the advantage that seizure risks and a technical default would thus be immediately averted. p.s Holdouts are not vultures!
Posted on: Fri, 20 Sep 2013 11:20:22 +0000

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