Argentina Creditors Boost Bargaining Power With New Funds

Argentina’s main bondholder groups say they now represent more than 50% of the country’s overseas debt, potentially strengthening their bargaining power at a crucial time in the country’s bond restructuring, Bloomberg News reported. A group of creditors seeking to extract better terms from the government in its $65 billion debt restructuring says they have added large funds to their bloc, according to people with direct knowledge of the matter. Thirty investment funds, some of them part of the Ad Hoc Bondholder group, the Exchange Bondholder group and the Argentina Creditor Committee, sent a letter to Economy Minister Martin Guzman on Monday saying they hope to reach a consensual agreement, according to a copy obtained by Bloomberg News. Read more