Wednesday, June 25, 2014

An extension is now being discussed between Argentina and holdout investors, allowing the country to pay other bondholders first if the litigation between the two makes good progress before July 30. Without a suspension on the order or a court stay, Argentina will have to pay the $1.3B it owes to holdout creditors, before making another $900M bond payment next Monday. A 30-day grace period will take place before an actual default can be declared.