Argentina at Brink of Default Again
June 30th, 2014Via: Bloomberg:
Argentina is poised to miss a bond payment today, putting the country on the brink of its second default in 13 years, after a U.S. court blocked the cash from being distributed until the government settles with creditors from the previous debt debacle.
The nation has a 30-day grace period after missing the $539 million debt payment to seek an accord with a group of defaulted bondholders led by billionaire Paul Singer’s NML Capital Ltd. and prevent a default on its $28.7 billion of performing global dollar bonds. While both Argentina and NML have said that they’re open to talks, public comments signal little progress has been made so far.
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