Argentina Settlement Surprise Leaves Some Investors in the Cold
- Government claims settlement doesn't include time-barred bonds
- Bondholders ask appeals court not to lift debt injunction
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Argentina’s historic return to capital markets is facing a new hurdle as holders of as much as $1.5 billion in bonds from its 2001 default say they’ve been unfairly left out of settlement offers.
Some of those investors -- including Fore Research & Management LP and Varde Partners -- teamed with others seeking to keep a judge’s order in place that prevents Argentina from paying its overseas debt, and may end up suing to try to recoup repayment of their bonds. The country is looking to leave behind the 15-year battle and raise funds overseas for the first time in more than a decade to pay creditors it has settled with, including billionaire Paul Singer.