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Citigroup Says Judge Allowing Two Argentina Bond Payments

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Citigroup Inc. said a U.S. judge is letting it process two bond payments in Argentina, giving it time to exit a custody business there that got stuck in the government’s legal battle with hedge funds.

Citigroup’s Argentine branch can fulfill its duty to process interest payments March 31 and June 30 on bonds issued under local law in U.S. dollars, the bank said Sunday. A judge in Manhattan signed the order March 20, allowing the payments “to the extent certain conditions are satisfied,” the bank said. The filing couldn’t immediately be confirmed in court records.