TVPP TVPA TVPY Cupones Vinculados al PBI

[pablo9494]

Defaulted Debt Trading Sinks as Elliott Bets on Courts: Argentina Credit (Nota de color para CRIA)

Trading in Argentine defaulted debt is drying up as creditors from billionaire investor Kenneth Dart to Elliott Management Corp. seek to obtain full payment on their $4.5 billion of bonds in court.

Investors may have traded about $1 million of defaulted Argentine bonds once in the past three months, down from daily trades of $5 million before the government completed a $12.9 billion debt restructuring in June, according to Exotix Ltd., a London-based brokerage that specializes in distressed securities.

President Cristina Fernandez de Kirchner’s debt swap whittled the group of remaining creditors to investors Economy Minister Amado Boudou called “vulture funds” on June 23. Dart’s EM Ltd. and Elliott’s NML Capital, which are looking for assets to seize with attachment orders from U.S. court judgments, also form part of a group of creditors who may prevent Argentina from selling bonds in international markets for the first time since its 2001 default on $95 billion.

“You are now left with a hard core of intransigent, hold- out investors who evidently decided that they’re in it for the long run,” said Arturo Porzecanski, an international finance professor at American University in Washington. “It’s a more professional group, it’s a more resilient group. They’re not going to give up. They’re determined to prevent Argentina from ever issuing bonds in the overseas market.”

The price of defaulted Argentine bonds sank to about 35 cents on the dollar last week from 49 cents in April, when the government unveiled the terms of its restructuring.

Judgments

Boudou said June 23 that creditors holding $4.5 billion of the securities were seeking to obtain payment through litigation. Last month, a U.S. appeals court ruled that Argentine assets administered by a U.S. bank were properly attached to pay Dart’s EM Ltd. and Elliott’s NML Capital. NML and EM have won judgments against Argentina that total, with interest, $2.4 billion, U.S. District Judge Thomas Griesa said in May.

David W. Rivkin, a lawyer for EM, and Scott Tagliarino, a spokesman for Elliott Management, both in New York, declined to comment.

“We’re no longer in a market in which everything trades as a commodity based on an upcoming exchange now that an upcoming exchange is unlikely,” said Diego Ferro, who helps manage $400 million in high-yield, emerging-market debt at Greylock Capital Management LLC in New York. “Eventually an administration may come in and clean up the whole problem. It’s a much more nuanced and targeted approach now if you’re holding debt.”

‘Enormous Effort’

Greylock participated in this year’s debt swap, according to Ferro, who declined to say whether the fund held on to any of its defaulted notes. Greylock isn’t pursuing litigation, he said.

The next government shouldn’t rush to clear the remaining debt, according to Francisco de Narvaez, a congressman who last year led a slate of candidates who beat former President Nestor Kirchner and his allies in mid-term congressional elections and who said he may run for president next year.

“Argentina has made an enormous effort to get out of the default with terms that, I insist, have been excessively generous,” de Narvaez said in a Sept. 13 interview in Buenos Aires. “It wouldn’t be a priority for me.”

The extra yield investors demand to hold Argentine dollar bonds instead of U.S. Treasuries fell three basis points, or 0.03 percentage point, to 659 at 3:33 p.m. New York time, according to JPMorgan Chase & Co.

Debt Buyback

The cost of protecting Argentine debt against non-payment for five years with credit-default swaps rose three basis points to 771, according to data compiled by CMA DataVision. Credit- default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a government or company fail to adhere to debt agreements.

The peso was little changed at 3.9491 per dollar.

Warrants linked to growth in South America’s second-biggest economy increased 0.26 cent to 11.83 cents, according to data compiled by Bloomberg.

Argentina’s plan to buy back 8.7 billion pesos ($2.2 billion) in debt doesn’t solely target the warrants, Finance Secretary Hernan Lorenzino said in a Sept. 17 phone interview. The debt buyback was included in the 2011 budget sent to Congress Sept. 16.

In 2005, Kirchner offered holders of defaulted debt a restructuring worth about 30 cents on the dollar. Holders of about $20 billion in bonds rejected that offer.

“The amount outstanding is minimal and those holding it are holding it for a reason,” said Amir Zada, a New York-based director at Exotix.

To contact the reporters on this story: Drew Benson in Buenos Aires at abenson9@bloomberg.net; Ben Bain in New York at bbain2@bloomberg.net

[pablo9494]

Grande Pablitoooo

Te tengo una parrillonga en juan b justo y cacheuta (altura segurola) se llama los palenques... que va como piña.

Pasate por ahi..

al final fuiste al trapiche?

Hoy fui con una amiga...es que estaba cerrada una parrilla llamada LA BONPLAND y terminamos ahi...

[Patricio2]

Muchachos, a ver si alguien me saca esta duda:

Supongan que el TVPP paga 5.8 cada 100. Supongan que compré, para hacer facil los numeros, a $ 10 . Supongan que puedo vender el día despues del pago (el 16 de dic11) a $10. Eso implica que le saqué un 58%. Si logro vender a mas de $10 el día despues del pago, pues habré obtenido una mayor diferencia.
Entonces, pensando eso, no debería vender NUNCA abajo de $15.8 (salvo que me digan que el precio post pago puede ser, q se yo, $5 y en ese caso el pago de 5.8 cada 100 logra compensar una parte de esa caida del precio).

Muchas gracias1!

Estamos calculando un precio que podría ser de $17 el día previo al pago, en ese caso habrías ganado un 70%; al abrir al día siguiente de pagar supongamos $5,80, lo haría a $11,20 (17 - 5,80). Vendas cuando vendas siempre vas a ganar lo mismo, tu ganancia no depende de si cobrás la renta o no.

[Peor_es_nada]

Grande Pablitoooo

Te tengo una parrillonga en juan b justo y cacheuta (altura segurola) se llama los palenques... que va como piña.

Pasate por ahi..

al final fuiste al trapiche?

[pablo9494]

Recien llego, lindo dia de inicio de semana...me contaron que hubo una novela a la mañana, me la perdi...

El segundo trimestre cerró con ingreso de capitales del exterior

http://www.infobae.com/economia/537527- ... c51ddb7aed

Aca no hay novelas pavlito!!

Esta seguro estimado? Me llamaron al menos 5 foristas en 30 minutos comentandome las minutas ONLINE...jajaja, no daba mas de la risa...

Abrazo

PD: como te gusta AGITAR...(MAK dixit)

[gabituns]

Muchachos, a ver si alguien me saca esta duda:

Supongan que el TVPP paga 5.8 cada 100. Supongan que compré, para hacer facil los numeros, a $ 10 . Supongan que puedo vender el día despues del pago (el 16 de dic11) a $10. Eso implica que le saqué un 58%. Si logro vender a mas de $10 el día despues del pago, pues habré obtenido una mayor diferencia.
Entonces, pensando eso, no debería vender NUNCA abajo de $15.8 (salvo que me digan que el precio post pago puede ser, q se yo, $5 y en ese caso el pago de 5.8 cada 100 logra compensar una parte de esa caida del precio).

Muchas gracias1!

hola a todos
andy estas erradisimo ..pero creo quw hay forista que te lo va explicar mejor que yo ..slds

[pablo9494]

Argentine Merval Stock Index Jumps to Record as RBC Raises Growth Forecast

By Camila Russo - Sep 20, 2010 5:46 PM GMT-0300

Argentina’s Merval stock index climbed to a record on speculation the economy will improve after RBC Capital Markets increased its forecast for the nation’s growth.

Grupo Financiero Galicia SA, Argentina’s largest consumer lender, and BBVA Banco Frances SA climbed, leading an advance among financial stocks, after the price of the nation’s bonds increased, signaling higher values for banks’ holdings in fixed- income securities. The nation’s gross domestic product will probably expand 9.2 percent this year, more than a previous estimate of 6.5 percent, Nick Chamie, global head of emerging- markets research at RBC in Toronto, wrote in a research report.

The Merval index climbed 2.4 percent to 2,533.29 at the close of trading in Buenos Aires at 4 p.m. New York time, surpassing its high from April 9.

“The market is up mainly because bonds are performing well,” said Walter Chiarvesi, an analyst with Banco Santander SA in Buenos Aires. “Argentina’s risk is higher than the rest of Latin America but the country’s fundamentals are better than its risk spread.”

The extra yield investors demand to hold Argentine dollar bonds instead of U.S. Treasuries fell ten basis points, or 0.1 percentage point, to 651 today, according to JPMorgan Chase & Co., the highest after Venezuela and Ecuador among countries in the bank’s benchmark emerging-market index.

Petrobras Argentina SA, the Argentine unit of Brazil’s state-controlled Petroleo Brasileiro SA, rose 1 percent to 6.08 pesos, as crude oil increased for the first time in five days on speculation the U.S. economic recovery will accelerate.

To contact the reporter on this story: Camila Russo in New York at crusso15@bloomberg.net

[Peor_es_nada]

Recien llego, lindo dia de inicio de semana...me contaron que hubo una novela a la mañana, me la perdi...

El segundo trimestre cerró con ingreso de capitales del exterior

http://www.infobae.com/economia/537527- ... c51ddb7aed

aca no hay novelas pavlito!!

[Peor_es_nada]

Cerre 60% del lanzamiento cubierto.

seguro que fisther te compro....desde que anda en opciones no deja una...idolo Dario!.

Cerrar un lanzamiento es salir a comprar los calls lanzados para evitar que te lleven los cupones.
En este caso Capi salio a comprar calls, por lo tanto Dario no le va a comprar nada.
Operatoria basica.

Estimado apolo, cerrar un lanzamiento es salir a recomprar lo que vendiste primero...por lo tanto calculo que dario fue el primero en haberle comprado (sino tecnicamente no se podria haber lanzado).
A eso me referia.
Espero no volver entrar en discuciones con vos porque la verdad no vale la pena.

[pablo9494]

Market ends up more than 1 percent, S&P clears levels

http://www.reuters.com/article/idUSTRE68J14620100920

[pablo9494]

gracias pablo preguntaba,cambie de compu y no encuentro el signo de pregunta

De nada, Daniel es un fenomeno, pero a Santiago Roca nunca lo trate...