December 18, 2017
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
  • Print
  • Share
    1. Vote
    2. Not interesting Little interesting Interesting Very interesting Indispensable
Tags:  ISDA  Argentina  CDS  

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



    ámbito financiero    Docsalud    

Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia