Bloomberg News

Argentina May Offer Holdouts 2038 Par Bond, Cronista Reports

March 04, 2013

Argentina may offer bonds due 2038 at par value to creditors who are claiming payment on their defaulted debt in U.S. courts, Cronista reported today without saying how it obtained the information.

The offer would be in response to a U.S. appeals court request that Argentina propose a payment alternative to U.S. District Court Judge Thomas Griesa’s order that the government pay the full $1.3 billion the creditors are seeking when it pays performing debt, the Buenos Aires-based newspaper reported.

The country’s Economy Minister Hernan Lorenzino, Finance Secretary Adrian Cosentino and Cleary, Gottlieb, Steen & Hamilton LLP, legal counsel to Argentina in the case, today will discuss by telephone different payment options, Cronista said.

In its 2005 and 2010 debt swaps, Argentina offered Par bonds due 2038, Discount bonds due 2033, Global bonds due 2017 and securities linked to economic growth.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net.


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