Der 2. Tausch ist schon tot. Es wird schon nach dem 3. verlangt.
Abgeschickt von Holdout am 17 April, 2010 um 23:48:48:
The output of the default / Impact abroad
A group of bondholders threatened to ask third offer
U.S. investors are who said they agreed with the Italians in Italy cautious
WASHINGTON and ROME .- Just 24 hours after the formal presentation of the new debt swap, retail investors in the United States rejected it and announced the creation of a movement waiting to "third supply", convinced that this instance will "sooner rather than later" if the country wants to return to the capital market credibility.
Such a step which was announced in Washington Mark Botsford, an investor has not entered into the Exchange 2005 and do not plan to enter either in it. And who said their association with the Italian Stock Nicolas for this joint venture. Stock represents bondholders more than 4000 million dollars. "We agreed to work together on this," Botsford said to La Nacion.
Stock was recently in Washington to testify at the hearings, demanding the payment of debt, promoted before the Arbitral Tribunal of the World Bank (ICSID). Yesterday, the Task Force Argentina (TFA), headed, just issued a statement saying that no finding was issued pending the regulatory authority. Consulted by this newspaper, Stock said he hoped to analyze the formal bid.
Minister Amado Boudou and predicted that the appeal of the order of the third offering "not going nowhere." Italian bondholders said yesterday that it expected a partial resolution for the next 14 June.
The institution hopes to make its formal debut at a public hearing on the status of American investors affected by the default that was convened on Friday in the Senate from New York, the same jurisdiction of Judge Thomas Griesa, which left the entire operation under an uncertain threat of paralysis.
Movement seeks to bring together retail holders, primary investors who bought Argentine bonds before the default of December 23, 2001. Together, they hope to raise forks for about "six thousand or seven billion dollars," said Botsford, with the idea of creating a new offer after-the third exchange, it would be, in which the government "to negotiate access good faith "with those who trusted in the country" rather than to listen to the vulture funds, a measure which launches this plan "presented Boudou.
Have also secured approval from the U.S. State Department At press time, consultation with that agency had not responded.
The new exchange proposal submitted Boudou has a special section for retail investors, with the intention of attracting particular. To this end, proposes a cash payment for lost interest that is not referred to institutional holders. However, this benefit has a ceiling of $ 50,000 per fork. "And there are retailers who have a lot more than that and stay out," said Botsford.
Coldness in Italy
In Italy, receiving the swap was even colder. The above Task Force Argentina, which represents about 180,000 Italian bondholders still have U.S. $ 4,500 million in tango bonds, preferred not to react to the announcement indicated that it will act when you get the green light from the Italian stock market regulatory authority. "On the basis of statements of Argentine Economy Minister, Amado Boudou, the TFA states that any evaluation of the new Argentine swap may take place only at the time of approval by Consob on the actual contents of the offer," said statement, recalling that continuing with the action that started against Argentina at the International Centre for Settlement of Investment Disputes (ICSID), World Bank tribunal.
Just back from Washington, where he was attending the 7 to 14 April at hearings on the judicial phase of proceedings before the ICSID, Stock, noting that there did not meet with the Finance Secretary Hernan Lorenzino, spoke with THE NATION .
What do you think the big news announced by the Government?, He was asked. "Time!" He said. You saw the statement from the TFA and precisely why I do not want to express myself: I want to see before you bid. As we are serious people, before making comments I have to see the offer. And the offer is not Boudou may be what tells the press. I have to see what was given to the Consob, and once the Consob shall approve, we'll see. "
Silvia Pisani reports (from the U.S.) and Elisabetta Piqué (from Italy)
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