December 17, 2017
Wednesday, February 24, 2016

Argentine holdout creditors reach $5 billion deal in debt dispute, lawyer says

Creditors fighting Argentina in US courts for more than a decade over defaulted debt have reached a $5 billion agreement to settle the dispute, a lawyer representing the investors said on Wednesday.

"We have had an agreement on economic terms with Argentina since Thursday," Matthew McGill, a lawyer representing lead holdout creditors Elliott Management and Aurelius Capital Management said in a hearing before a US Federal Appeals court in Manhattan.

McGill called it a "$5 billion transaction" but then added the parties needed more time to finish the deal.

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Tags:  creditors  Argentina  US  debt  Griesa  holdouts  negotiations  

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