Argentina inks agreements in principle with two ‘holdout’ bondholders

By Caroline Salls

Pittsburgh, Feb. 12 – The special master for the negotiations between the Republic of Argentina and its “holdout” bondholders said two major bondholders reached agreements in principle to settle more than $1 billion in total claims, and intensive talks with four other large “holdouts” continued throughout the week of Feb. 7.

According to a release from special master Daniel A. Pollack, other parties with substantial holdings of defaulted Argentine bonds have also expressed interest in settling and are in the process of attempting to reach agreements in principle with Argentina.

Pollack said any and all agreements in principle are subject to the lifting of the Lock Law and the Sovereign Payment Law by the Argentine Congress and the lifting or dissolution of an injunction put in place by U.S. district judge Thomas P. Griesa.

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