Thursday
October 30, 2014
Results for: bondholders
  • 16/10/2014 | Argentina

    Gov’t denies triggering of debt acceleration clause

    Amid rumours that bondholders might request a debt acceleration for immediate repayment before 2015, Cabinet chief Jorge Capitanich said the government had not received any formal notice for the triggering of acceleration clauses and urged bondholders to take legal actions against US judge Thomas Griesa.

  • 30/10/2014 | Argentina

    'Instead of demanding acceleration, bondholders should take legal action against Griesa'

    Cabinet chief Jorge Capitanich called bondholders to “take legal action against (US Judge Thomas) Griesa instead of demanding the acceleration of (Argentine) bonds,” following rumours that Owl Creek Asset Management LP is discussing the formation of a group to demand immediate repayment on bonds.

  • 22/09/2014 | Argentina

    ‘Citibank must honour its obligations’

    Cabinet chief Jorge Capitanich urged Citibank to “honour its obligations to transfer funds to (Argentina’s) bondholders" following the New York's Second Circuit Appeals Court dismissal of an appeal by Citigroup and Argentina that sought to overturn US Judge Thomas Griesa’s order blocking payment.

  • 22/09/2014 | Argentina

    CFK meets with investor Soros, Ban Ki-moon in New York

    President Cristina Fernández de Kirchner today thanked UN chief Ban Ki-moon for the organisations support of Argentine debt restructuring, and also met with bondholder and billionaire financier George Soros, who is suing a US bank caught in the middle of the country's latest debt default.

  • 22/09/2014 | Argentina

    Bank of New York Mellon refuses to step aside as financial agent

    The Bank of New York Mellon (BONY) has declined Argentina's request to relinquish its role as the country's financial agent, insisting that it would continue to abide by court rulings made in New York regarding payment to bondholders.

  • 25/08/2014 | Argentina

    Gov't defends new debt swap plan: 'BoNY has breached contract'

    Cabinet Chief Jorge Capitanich defended the Executive’s plan to replace the bank of New York Mellon (BoNY) as trustee of Argentina’s restructured bonds saying it has “breached the trust agreement.”

  • 05/09/2014 | Argentina

    'Many' bondholders willing to accept new debt payment rules

    According to Cabinet Chief Jorge Capitanich, “many” creditors are willing to accept a change in payment location to collect their money as an ongoing legal dispute with vulture funds continues to jeopardize the restructuring Argentina reached with 93 percent of bondholders back in 2005 and 2010.

  • 10/09/2014 | Argentina

    Griesa holds off on Citi subpoena in vulture case

    US district judge Thomas Griesa has said he would wait for a decision on a pending appeal before ordering Citigroup to comply with a subpoena served by holdout investors seeking details of any threats from Argentina to process payments the court had blocked.

  • 20/08/2014 | Argentina

    'We should be asking Griesa for BoNY deposits'

    Cabinet Chief Jorge Capitanich stressed that by changing the debt’s jurisdiction to Buenos Aires the government seeks to protect restructured bondholders and pointed out that the fate of the u$s 539 millions deposited to restructured creditors in a Bank of New York (BoNY) account is to be determined by US District Judge Thomas Griesa, who has frozen the assets.

  • 20/08/2014 | Argentina

    Italian bondholders praise jurisdiction change

    The Italian bondholders' legal representative Tullio Zembo praised the Sovereign Public Debt Payment Law pushed by the government saying the decision to change the debt’s jurisdiction to Buenos Aires is “probably the most appropiate.”

  • 20/08/2014 | Argentina

    Kicillof warns 'no change of payment jurisdiction'

    The economy minister has briefed reporters on the bill submitted by President Kirchner to Congress yesterday that seeks to change Argentina’s payment "location." US Judge Thomas Griesa is holding bondholders “hostages” to push for a solution benefiting hedge funds, Axel Kicillof said.

  • 07/08/2014 | Argentina

    Gov’t fires back at Griesa, reiterates BoNY has to pay bondholders

    Cabinet Chief Jorge Capitanich said US Judge Thomas Griesa has proved his “incompetence, constant bias” by ratifying his order to keep a hold on funds Argentina deposited for exchange bondholders in the Bank of New York Mellon.

  • 13/08/2014 | Argentina

    Gov’t says ‘acceleration’ on restructured bonds not possible

    Cabinet Chief Jorge Capitanich rejected the possibility raised last week by Argentina’s holdout investors to declare principal and interest immediately due, a move known as acceleration, saying the conditions for it have not been met.

  • 05/08/2014 | Argentina

    Argentina to urge Citibank, BONY to pay bondholders

    The Argentine Government will formally demand that Citibank and the Bank of New York Mellon pay exchange bondholders, the Economy Ministry informed today in a press release.

  • 06/08/2014 | Argentina

    Gov't confirms BoNY notice to pay restructured bondholders

    Cabinet Chief Jorge Capitanich confirmed that Argentina has formally demanded the Bank of New York Mellon and other financial entities, in a reference to Citibank, to guarantee that restructured bondholders receive the u$s 539 millions deposited by Argentina.

  • 06/08/2014 | Argentina

    Kicillof tells bondholders they have rights over funds withheld in NY

    The Economy Ministry reminded bondholders that they possessed rights and "solutions" over the funds currently owed to those holding restructured titles, which are being held by the Bank of New York (BoNY) while Argentina argues that they must be turned over to participants of the 2005 and 2010 debt swaps.

  • 31/07/2014 | Argentina

    Bank of New York Mellon confirms still holding Argentina's payments

    The Bank of New York Mellon (BNY) sent a formal letter to holders of Argentina's exchange bonds essentially confirming that the sovereign had defaulted.

  • 31/07/2014 | Argentina

    Italian bondholders say banks deal would trigger RUFO clause

    The Italian bondholders' legal representative Tullio Zembo said that the agreement private banks and holdouts are currently working on would trigger the Rights Upon Future Offers (RUFO) clause.

  • 04/08/2014 | Argentina

    Ex Finance Secretary says govt's vulture fund strategy will isolate the country

    Former Finance Secretary Guillermo Nielsen today referred to the government's strategy towards vulture funds and said "the strategy of blasting the judge and the mediator has not been thought enough and will isolate the country."

  • 07/07/2014 | Argentina

    'No third party judge is entitled to prevent bondholders from receiving payment'

    Cabinet Chief Jorge Capitanich said Argentina is determined to “hamper the actions of any external agent” working to prevent bondholders from being paid and referred to a advert published in local and international newspaper to reassure bondholders of the government’s willingness to pay.

  • 18/07/2014 | Argentina

    Italian holdouts say solution 'in the hands of Argentina'

    The Italian chapter of Task Force Argentina (TFA), an organization which represents bondholders that did not accept the 2005 and 2010 debt swaps, urged the government to negotiate and warned it will keep on pursuing its interests until the last consequences.

  • 29/07/2014 | Argentina

    Lavagna backs jurisdiction switch move

    A change of jurisdiction to pay bondholders who did accept the 2005 and 2010 debt swaps in Buenos Aires is “viable,” ex economy minister Roberto Lavagna said considering Argentina’s Central Securities Depository a possible option to complete the operation.

  • 27/06/2014 | Argentina

    Gov't publishes legal notice to inform about payment to swap bondholders

    The government today published a legal notice on leading media outlets of Argentina, to inform about the 539 million deposit the government made yesterday in the Bank of New York to pay swap bondholders, as it was announced by Economy Minister Axel Kicillof.

  • 27/06/2014 | Argentina

    Shares slip after hearing in New York

    Shares rebounded from a previous fall after US Judge Thomas Griesa today decided not to place an embargo on the amount Argentina had deposited in the Bank of New York.

  • 02/07/2014 | Argentina

    Buenos Aires, Neuquén confirm payment to bondholders in NY

    Argentine provinces of Buenos Aires and Neuquen confirmed they will meet their foreign debt’s deadlines at the end of the month despite the government’s risk of default after US Judge Griesa blocked the funds deposited for restructured bondholders.

  • 19/06/2014 | Argentina

    Italian bondholders 'willing to collect anywhere'

    Lawyer Tullio Zembo said Italians holding Argentina’s restructured debt bonds “are willing to collect anywhere” although he considered the current legal situation that has raised default fears in the South American country “extremely difficult.”

  • 26/06/2014 | Argentina

    'Argentina pays,' President CFK tweets

    Following the announcement made earlier by Economy Minister Axel Kicillof who informed the government had paid more than a billion dollars to exchange bondholders today, Preisdent Cristina Fernandez de Kirchner used her Twitter account to say "Argentina pays."

  • 16/06/2014 | Argentina

    US Supreme Court rejects Argentina appeal in bond fight

    The US Supreme Court today declined to hear Argentina's appeal over its bid to avoid paying $1.33 billion to hedge fund creditors or risk a potential default. The high court left intact lower court rulings that ordered Argentina to pay. The government had previously warned it could default on its sovereign debt if required to pay in full.

  • 06/03/2014 | Argentina

    Gov't praises US support in vulture funds litigation

    Cabinet Chief Jorge Capitanich has praised Washington’s support to Argentina in its long-standing dispute with the so called vulture funds, suing the South American country over its defaulted bonds more than a decade ago.

  • 12/06/2014 | Argentina

    Gov't 'expectant' about US Supreme Court decision

    Economy Minister Axel Kicillof said the federal government was “expectant” about a decision by the United States Supreme Court that could bring same relief to Argentina today if it favours the South American position in its billionaire dispute against vulture funds.

  • 19/04/2013 | Argentina

    Vulture funds reject Argentina's payment offer

    Vulture funds have rejected Argentina’s debt payment offer over defaulted bonds renewing its position that the South American country fulfill its 1.3 billion dollar pay obligation.

  • 23/08/2013 | Argentina

    Bondholder fight: Argentina loses US appeal; SC appeal resolution pending

    Argentina today lost its appeal of a US judge's order requiring that it pay $1.33 billion to bondholders that did not participate in two restructurings following the country's historic $100 billion default more than a decade ago. The 2nd Circuit said enforcement of the injunctions would be stayed, pending resolution of an appeal of an earlier decision last year to the US Supreme Court, and avoiding a technical default by Argentina.

  • 23/08/2013 | Argentina

    Shares drop; country risk tightens after US appeals court ruling

    After a US appeal court ruling on Argentina's fight with bondholders the Merval index in Buenos Aires Stock Exchange dropped one percent to 3,903.21 points, while the country risk tightened 3.7 percent to 1,061 basis points.

  • 26/03/2013 | Argentina

    US appeals court declines to rehear Argentina bond case

    A US appeals court denied Argentina's request to have all the judges on its court reconsider a ruling that favored creditors who did not participate in its two debt restructurings.

  • 30/03/2013 | Argentina

    Argentina holds ground in bond payment offer

    Argentina is pitching an alternative payment formula to a US appeals court that would allow it to resolve litigation with creditors holding defaulted bonds for which they are demanding to be paid $1.33 billion.

  • 30/03/2013 | Argentina

    Gov't: 'We'll keep on meeting debt obligations'

    Vice President Amado Boudou, Economy Minister Hernán Lorenzino, deputy Economy Minister Axel Kicillof and Finance Secretary Adrián Cosentino held a press conference defending Argentina’s stance at the US appeals court over the country’s dispute with “vulture funds”.

  • 27/11/2012 | Argentina

    Fitch downgrades Argentina on 'probable default'

    Fitch Ratings agency announced it has downgraded Argentina's long-term foreign currency Issuer Default Rating from "B" to "CC," with a negative outlook, as it sees a "probable default" if the country misses its payment to holdout investors.

  • 28/11/2012 | Argentina

    US Appeals Court's ruling

  • 27/02/2013 | Argentina

    Argentina urges 'workable' solution to bondholder fight

    Argentina's defence urged a US appeals court today to come up with a "workable" solution to its long-running fight with so-called holdout bondholders, and assured the country will not pay an amount exceeding the one set in the debt-swaps.

  • 16/11/2012 | Argentina

    Argentina to give response over vulture funds in New York

    Argentine legal representatives in New York will present today before District Judge Thomas Griesa, their defence regarding the current stance of the vulture funds.

  • 22/11/2012 | Argentina

    US court orders Argentina to pay bond holders in 'vultures' row

    Argentina suffered a stinging blow late last night, when New York federal judge Thomas Griesa, citing threats by the country's leaders to defy his rulings in a decade-old dispute over defaulted sovereign bonds, ordered immediate payment.

  • 22/11/2012 | Argentina

    De Vido accuses former economy ministers of 'giving away Argentina’s sovereign jurisdiction'

    Planning Minister Julio De Vido was the first Cabinet member to come on stage today after the ruling against Argentina over vulture funds.

  • 28/03/2011 | Argentina

    Griesa rules in favour of Argentina again

    Argentina managed to win another judicial battle in a New York court in a lawsuit filed by bondholders who saw their accusations rejected, after insisting that the Banco Nación was Argentina’s “alter ego” and was therefore liable in the nation’s defaulted debt case.

  • 26/10/2012 | Argentina

    US court rules against Argentina over debt fix

    A US appeals court said Argentina discriminated against bondholders who refused to take part in massive debt restructurings in 2005 and 2010 by deciding to pay them later than bondholders who agreed to participate.

  • 05/11/2012 | Argentina

    'Argentina to fight US court ruling on debt,' Lorenzino says

    Argentina will use all legal means to defend its position against a US court ruling that would force the country to repay creditors who sued to collect on defaulted Argentine bonds, Economy Minister Hernan Lorenzino said.

  • 28/11/2012 | World

    US Appeals Court grants emergency halt on Argentine bond payment

    A US appeals court yesterday granted an emergency stay order that gives Argentina more time to argue against making a $1.33 billion payment to investors who rejected two debt restructurings in the nation's 2002 sovereign debt default.

  • 10/12/2012 | World

    Greece extends buyback offer to reach target

    Greece has extended its offer to buy back debt until tomorrow, seeking more bids from bondholders after falling just short of a target to retire bonds worth 30 billion euros at a cost of just 10 billion euros.

  • 07/03/2012 | World

    Athens gives private creditors two days to decide on Greek bailout

    Athens turned up the heat on its creditors as it sought to secure a bond swap that will cut its mountainous debt. The Greek government gave private creditors until Thursday night to say whether they will participate in the exchange that is a key part of a bailout programme to help Greece manage its mountainous debt.

  • 09/11/2012 | World

    Griesa urges Gov't to revise position, pay to vulture funds

    US Judge Thomas Griesa urged Argentina to comply with the recent ruling which orders to compensate the bondholders that did not participate in both debt restructuring of the country.

  • 26/11/2012 | World

    Bond-holders appeal US court ruling too

    Investors holding US$1 billion worth of restructured Argentine debt appealed to US Distrct Judge Thomas Griesa’s ruling that they fear would trigger another default and prevent them from being paid principal and interest due on their bonds next month.

  • 23/01/2012 | World

    Euro zone ministers reject private bondholders' Greece offer

    Euro zone finance ministers rejected as insufficient an offer made by private bondholders to help restructure Greece's debts, sending negotiators back to the drawing board and raising the threat of Greek default.

  • 20/02/2012 | World

    Second Greek bailout in reach, funding gap narrows

    Euro zone finance ministers, locked in marathon overnight talks, inched towards approving a second bailout for debt-laden Greece that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.

  • 05/03/2012 | World

    Top lenders back Greek bond swap plan

    Major Greek bondholders voiced their support for a deal that will more than halve the value of their holdings as their contribution to keeping the country afloat.

  • 13/03/2014 | Multimedia

    Washington 'won't side with Argentina in court,' Kerry affirms on vulture funds dispute

    The Barack Obama administration will not support Argentina in its long-standing dispute with vulture funds suing the South American country over its defaulted bonds more than a decade ago, US State Secretary John Kerry has warned. Still, the American official praised what he considered some “positive steps” the Kirchnerite government has taken.


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