The bondholders who entered the August 2020 debt swap, and who still maintain their positions, do the math and discover that they have lost an average of 60% since they accepted the Argentine offer. And with prices at 20% of the Net Present Value (NPV), they consider that there may be only one opportunity to get rid of the restructured public securities, which would cause a massive flood of Argentine bonds in the market, at a value that would only interest funds. highly speculative (including some usual vultures). Or to investors who rule out that the country should call for a new debt renegotiation in a period no longer than 2026/2027, where the interest rate should be above the average discussed and closed with Martín Guzmán in August 2020. And there would be the business, since the alternative of a trial against the country similar to the one closed in 2016 would be impossible due to the judicial obstacles imposed in the issuance of the debt organized by Guzmán.
Source: Ambito
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