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Paul Singer Cuts Deal With Argentina After Ugly, 15-Year Dispute

  • Argentina agrees to pay holdouts $4.65 billion, 75% of claim
  • Accord will help bring end of isolation from bond market
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Argentina Holdouts Face Deadline on Defaulted Debt

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Paul Singer versus the republic of Argentina is over.

Some 15 years after the country carried out the biggest sovereign default ever, and 13 years after the hedge-fund billionaire first sued for repayment, the two sides reached a settlement late Sunday. The deal marks a major milestone for Argentina and its new president, Mauricio Macri, restructuring the lion’s share of the debt remaining from the default and freeing up the nation to tap international markets for much-needed financing as its commodities-rich economy falters.