-US judge orders NY hedge funds to respond to Argentina's debt offer.
Global Banking News - 04 April 2013
Two New York hedge funds that had not participated in earlier restructuring moves, have been ordered by the court to respond to the latest offer by Argentina to repay debt under new conditions.
Argentina has offered creditors an option to receive bonds equivalent to value of debt or discounted bonds. The debt is valued to be around USD1.33bn. The hedge funds that have been offered the options are NML Capital and Aurelius Capital Management.
The president of Argentina, Cristina Kirshner, said that she was willing to re-extend the restructuring terms of 2005 and 2010 to the two hedge funds.
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