22:16 GMT +321 September 2019
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    Argentina Agrees on $110 Million Payment to Third Holdout Creditor

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    Argentina has reached an agreement with a third bondholder to pay over $110 million in settlement under the February 5 proposal, US mediator in the debt dispute Daniel Pollack said.

    MEXICO CITY (Sputnik) – Earlier this week, Argentina agreed to pay $1.1 billion to EM Ltd. and Montreux Partners LP.

    The "settlement in principle" was reached with Capital Markets Financial Services, Pollack said in a Thursday statement cited by The Fiscal Times.

    The agreements are being reached within the framework of the proposal Argentina made on February 5 to pay $6.5 billion to US holdout creditors that would not accept debt restructuring.

    Most of Argentina's creditors agreed to debt restructuring conducted in 2005 and 2010. Some, including Aurelius Capital management and NML Capital, refused to accept the deal, prompting US District Judge Thomas Griesa to freeze Argentina's ability to transfer funds to restructured bondholders until it pays the holdouts in the restructuring.

    The ruling forced Argentina into its second default in 13 years.


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