Argentine bonds lose ground following the debt swap announcement

Wednesday, August 28th 2013 - 00:24 UTC

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Argentina bonds in dollars, protected by local legislation fell the most in four months after President Cristina Fernandez announced she’s sending a bill to Congress to reopen the debt swap so that holders of the 7% of pending non restructured debt can normalize their situation in similar conditions. Read full article

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ChrisR
TMBOA is now going to try a “legal” wrangle to short out the US courts! Ha, ha, ha.

The ONLY idiots agreeing to the swap will be the Argentines themselves and other mentally deficient people who cannot see the obvious problem with relying on “TMBOA also announced on Monday that holders of restructured bonds will be able to swap them into notes covered by Argentine law”.

“Fool me once shame on you, fool me twice shame on me” should be the guide here. She and The Dark Country have had several “first chances” and cannot be trusted.
Aug 28th, 2013 - 08:43 am - Link - Report abuse 0
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Conqueror
@1 There is no such thing as “Argentine law”. There is only how CFK feels on “the day”. If she feels good, an investor might get half what the bond says. If she feels bad (face no longer fits head), the investor might well end up paying more. I'll bet she'll think up a penalty clause to punish investors for relying on NY law.
Aug 28th, 2013 - 11:10 am - Link - Report abuse 0
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