02:55 GMT +324 January 2018
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    Argentina Free to Repay Creditors as US Court Opens Doors to Bond Markets

    © AFP 2018/ FRANCK FIFE
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    The US District Court of Appeals in Manhattan has affirmed a judge’s ruling to lift an injunction that has barred Argentina from repaying its creditors, The Financial Times reports.

    MEXICO CITY (Sputnik) – Argentina can now raise as much as $15 billion to pay the creditors, including Elliott Management’s NML Capital and Aurelius Capital Management, the newspaper said on Wednesday.

    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.

    Argentina previously reached agreements with some holdout creditors that own over $8 billion of the total $11.5 billion debt held by creditors who wanted better repayment terms.

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    debt restructuring, debt, Argentina
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