Saturday
November 1, 2014
Tuesday, August 5, 2014

ISDA to determine when Argentine CDS is paid

The International Swaps and Derivatives Association (ISDA), which declared Argentina in default as of July 30, decided to resume discussions over an auction to settle Credit Default Swaps (CDS) contracts on Thursday, while it determined statements made by the Argentine government before its July 30 “credit event” do not trigger payment on CDS contracts that expired before that date.

The committee considered Economy Minister Axel Kicillof’s mid-June statements that a June 30 coupon payment would be “impossible” to make due to a US court order, could not be considered a “repudiation or moratorium event”.

Holders of some Argentine CDS contracts that expired before July 30 asked ISDA to consider whether their protection could be extended under those definitions on the hope they would receive a payout.

  • CommentComment
  • Increase font size Decrease font sizeSize
  • Email article
    email
  • Print
    Print
  • Share
    1. Vote
    2. Not interesting Little interesting Interesting Very interesting Indispensable
Tags:  ISDA  Argentina  CDS  





22
  • Comment
  • Increase font size Decrease font size
  • mail
  • Print

COMMENTS >

Comment




Grupo ámbito ámbito financiero ambito.com Docsalud AlRugby.com Premium El Ciudadano El Tribuno Management

Director: Orlando Mario Vignatti - Edition No. 4298 - This publication is a property of NEFIR S.A. -RNPI Nº 5177376 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA