He also reiterated Economy Minister Axel Kicillof's remarks saying the new swap "is not a change of jurisdiction, it is a change of venue and it is voluntary."

Thursday, August 21, 2014

Gov't calls holdouts to accept new swap for 'certain' payment chances

Cabinet Chief Jorge Capitanich reiterated that the bill pushed by the Executive “is not about a change of jurisdiction but of venue” and pledged that bondholders who voluntary accept the new swap will have “clear, certain” chances to receive payment.

“The swap offer to the 7.7% of holdout bondholders entails the same conditions as restructured have,” the chief of ministers said in his daily press briefing at government house. Capitanich pointed out that by accepting the new swap bondholders would have a 300% gain.

He also reiterated Economy Minister Axel Kicillof's remarks saying the new swap "is not a change of jurisdiction, it is a change of venue and it is voluntary."

“Bondholders who accept (the swap) will have gain, and clear, certain recovery chances,” the official added.