Tag: Rights Upon Future Offers - RUFO

Friday, November 28th 2014 - 06:17 UTC
Griesa rejects payment request from investors holding Argentine bonds in Euros

US Federal judge Thomas Griesa has rejected a request by European investors seeking payment on Argentine titles currently blocked in New York, despite an ongoing parallel court battle over the issue in London.
Thursday, November 6th 2014 - 07:22 UTC
Argentina and hedge fund NML Capital ratify their commitment to keep fighting

Argentine Central bank chief Alejandro Vanoli, said the country will be not getting down on its knees in a negotiation with 'vulture funds' (hedge funds), once the January first date comes and the controversial RUFO clause, (preventing Argentina from voluntarily offering holdout creditors better terms than those of its 2005 and 2010 restructurings), falls.
Thursday, October 30th 2014 - 21:36 UTC
Argentina tells bondholders to take legal action against Judge Griesa who is 'withholding funds'

Argentine Cabinet chief Jorge Capitanich called bondholders to “take legal action against (US Judge Thomas) Griesa instead of demanding the acceleration of (Argentine) bonds,” following rumors that Owl Creek Asset Management LP is discussing the formation of a group to demand immediate repayment on bonds.
Wednesday, October 8th 2014 - 03:50 UTC
Brazilian and Chinese banks support for Argentina in bonds litigation confirmed

Brazil’s PTG Pactual Bank and the China Construction Bank are at the forefront of the initiative to buy up the 1.6 billion dollars of debt which Argentina owes “holdouts” NML-Elliott and Aurelius, according to a report from Buenos Aires Ambito Financiero, the country's leading financial newspaper.
Friday, October 3rd 2014 - 07:36 UTC
Brazil private sector wants to help Argentina in the dispute with 'holdouts'

According to Argentina's leading and most influential financial newspaper, Ambito Financiero, Brazil, via the private sector could come to the rescue of Argentina in its ongoing dispute with the speculative funds in the New York court presided by Judge Thomas Griesa.
Friday, August 22nd 2014 - 07:43 UTC
Argentina describes Griesa as 'ignorant' and lacking knowledge on democratic institutions

The Argentine government again blasted Judge Thomas Griesa for declaring 'illegal' the bill sent to Congress referred to the country's debt and creditors, and said the magistrate “ignores national sovereignty” and “ignores how democratic institutions function”.
Friday, August 22nd 2014 - 07:33 UTC
European holders of swapped Argentine bonds willing to accept removal of the RUFO clause

European investors holding 5.2 billion dollars of restructured Argentine bonds are negotiating the removal of the Rights Upon Future Options (RUFO) clause that Argentina claims prevents them from negotiating with holdout funds, it was reported in the Buenos Aires media.
Saturday, August 16th 2014 - 11:32 UTC
Trust in Argentine reliability has vanished, as a result of the bonds' litigation

Debt talks on Argentina’s defaulted bonds in the hands of holdout hedge funds ultimately collapsed this week due to disagreements over prices and the absence of a government guarantee to honor payments on the paper, sources close to the discussions said.
Thursday, August 14th 2014 - 06:44 UTC
Aurelius Capital confirms no deal with banks on Argentina's bonds

Argentine holdout creditor Aurelius Capital Management has said that after talks with many financial institutions, the prospects for finding a private-settlement solution to the Argentine sovereign debt dispute had garnered no realistic proposals.
Saturday, August 9th 2014 - 07:45 UTC
Despite warning, Kicillof again defies and again accuses Griesa of 'partiality'

Economy ministry Axel Kicillof once again defiantly insisted Argentina has made a required debt payment on restructured sovereign bonds on Friday night, just hours after a U.S. judge threatened a contempt-of-court order if Argentina did not stop issuing such statements.