Argentine holdout creditors reach $5 billion deal in bond dispute, lawyer for NML and Aurelius says. [View all]

[forest444]

Creditors fighting Argentina in US courts for more than a decade over defaulted debt have reached a $5 billion agreement to settle the dispute, a lawyer representing the investors said on Wednesday.

"We have had an agreement on economic terms with Argentina since Thursday," Matthew McGill, a lawyer representing lead holdout creditors Elliott Management and Aurelius Capital Management said in a hearing before a US Federal Appeals court in Manhattan.

McGill called it a "$5 billion transaction" but then added the parties needed more time to finish the deal.

At: http://buenosairesherald.com/article/209425/argentine-holdout-creditors-reach-$5-billion-deal-in-debt-dispute-lawyer-says
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Paul Singer's NML (Caymans) and Aurelius (London) - suspected launderers of billions in dirty money - are getting $5 billion for bonds that, between the two, cost them no more than $150 million or so (a 3,000% return). Nice work if you can get it.

Narco Rubio's definitely happy: Paul Singer's his principal bankroller. So is Argentina's Macri, who I'm sure was well compen$ated for sweetening the deal by three fold at the last minute.