GGAL Grupo Financiero Galicia

[All Ramon]

Talks for private deal on Argentine bonds collapse
Kate Kelly | @katekellycnbc
51 Mins Ago
CNBC.com
83
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Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told CNBC, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.

In recent weeks, representatives for NML Capital, a subsidiary unit of the $25 billion hedge fund company Elliott Management, had negotiated with counterparts at JPMorgan, Citigroup, HSBC, and Deutsche Bank about the possibility of buying at least part of NML's position in Argentine government bonds.

Argentina entered a state of default on July 31 after refusing to pay what it owed to NML and certain other creditors, arguing that the group was made up of "vulture" investors whose demands for capital from the economically troubled country were unreasonable.

Read MoreArgentina calls on US to intervene

The idea behind the bank discussions with NML, people briefed on the matter have said, was that Argentina might look more kindly upon international banks like JPMorgan than it would have on a group of tough-talking hedge funds, and therefore might have been more likely to pay off at least part of the roughly $1.3 billion it owed those bondholders as of late July.

But that thinking changed when it appeared that the Argentine government's own aggressive stance seemed to be hardening. The signs included filing suit against the United States, where the disputed bonds are domiciled, in the International Court of Justice; sharply criticizing both a federal judge and a mediator appointed to broker a solution between the country and NML and some of its other investors; and purchasing a two-page ad in the Wall Street Journal exhorting some of its friendlier bondholders to take action to protect their investments.

[All Ramon]

Talks for private deal on Argentine bonds collapse
Kate Kelly | @katekellycnbc
51 Mins Ago
CNBC.com
83
SHARES






5
COMMENTSJoin the Discussion
Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told CNBC, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.

In recent weeks, representatives for NML Capital, a subsidiary unit of the $25 billion hedge fund company Elliott Management, had negotiated with counterparts at JPMorgan, Citigroup, HSBC, and Deutsche Bank about the possibility of buying at least part of NML's position in Argentine government bonds.

Argentina entered a state of default on July 31 after refusing to pay what it owed to NML and certain other creditors, arguing that the group was made up of "vulture" investors whose demands for capital from the economically troubled country were unreasonable.

Read MoreArgentina calls on US to intervene

The idea behind the bank discussions with NML, people briefed on the matter have said, was that Argentina might look more kindly upon international banks like JPMorgan than it would have on a group of tough-talking hedge funds, and therefore might have been more likely to pay off at least part of the roughly $1.3 billion it owed those bondholders as of late July.

But that thinking changed when it appeared that the Argentine government's own aggressive stance seemed to be hardening. The signs included filing suit against the United States, where the disputed bonds are domiciled, in the International Court of Justice; sharply criticizing both a federal judge and a mediator appointed to broker a solution between the country and NML and some of its other investors; and purchasing a two-page ad in the Wall Street Journal exhorting some of its friendlier bondholders to take action to protect their investments.

[utopista]

nor este de espania un pueblo que ni se como se llama en los pirineos.

¿Torla? ¿Estas cerca del Monte Perdido?

¿O Aínsa?

Es espectacular esa zona, pasala bien.

[Mitridates]

no que afrodita ni afrodita, a PAPU lo tenes de foronovio, siempre le dejas corasonsitos y te tengo que decir que me pongo celoso, por que yo en promedio le pego mas veces que PAPU y siento que me los merezco por esa razón, pero vos ni siquiera me miras y no me dejas ni un ..............

jajajaj no lo conozco a papu! me estás confundiendo con Afrodita!

El tema es también lo que hablaban ayer, creo , cuando el adr rebote acá bajan el ccl y también queda planchada.

[YoPablo]

nor este de espania un pueblo que ni se como se llama en los pirineos.

[Mitridates]

nor este de espania un pueblo que ni se como se llama en los pirineos.

Mitri ... calor? ... Se podría saber por que zona andáis ?

[Koshka2]

Hablando de PAPU vieron lo planchada de esta accion cuando no esta?
sobre todo es la combinacion falta de PAPU y SMART
Si aparecen mañana para algun lado explota esto

[sabrina]

jajajaj no lo conozco a papu! me estás confundiendo con Afrodita!

El tema es también lo que hablaban ayer, creo , cuando el adr rebote acá bajan el ccl y también queda planchada.

[YoPablo]

Mitri ... calor? ... Se podría saber por que zona andáis ?

[Mitridates]

si en realidad la dejan planchadita y manejan el CCL a gusto y placer, si te veo bastante liquida, tanto que si fueras cerveza te tomaría al seco, digo por el calor que hace acá y yo con gaseosa solamente y por supuesto todo cerrado para comprar algo. Sabri largalo a papu entre nosotros que hace una chica tan linda como vos con un ganzo como PAPU. que no se entere el. si le decis algo lo niego.

sí, pero ahora debería estar más abajo y la están aguantando.
Comenzará a bajar la semana próxima?
Se nota que sigo líquida?

[sabrina]

lo que esta pasando ahora, es lo que pasa todos los malditos ejercicios de opciones, la planchan y la tiran abajo centavo a centavo una semana antes del vencimiento, lo hacen centavo a centavo para que enganchar mas gente.

sí, pero ahora debería estar más abajo y la están aguantando.
Comenzará a bajar la semana próxima?
Se nota que sigo líquida?

[Mitridates]

lo que esta pasando ahora, es lo que pasa todos los malditos ejercicios de opciones, la planchan y la tiran abajo centavo a centavo una semana antes del vencimiento, lo hacen centavo a centavo para que enganchar mas gente.

[Mitridates]

samas tenes que abrir cuenta en td.am.ritrade

Hola Mitri! como conseguis este tablero? está excelente!!! contame, pls, aunque sea para saber....Gracias.

[neofito]

Como siempre, estuvieron jugando con el precio toda la tarde y dibujaron el precio en la local al cierre

[YoPablo]

Como dijo El Conde, a varios nos clavaron en éste ejercicio no puedo dar cantidades. Por ahora el mercado no tiene reacción, yo espero que vaya a buscarla mas abajo

Cada vez me convenzo más que así será