Tuesday, September 30, 2014
Government makes Par coupon payment deposit
The government made a deposit today to comply with the Par coupon interest payment which was due today, in what can be read as a defying stance towards a US court that blocked such payments until the country compensated US hedge funds suing over unpaid bonds.
The country fell into default again in July after the US judge overseeing its decade-long court battle with the funds - known as "holdouts" - froze a June coupon payment on Argentine foreign law bonds once it reached a US intermediary bank.
Today's payment of at least $200 million was deposited at local state-run Banco de la Nacion Fideicomiso to keep the money beyond the reach of District Judge Thomas Griesa.
The news of the deposit came following a ruling issued yesterday by the US judge holding the country in contempt for violating his rulings