U.S. $ 230.9 million to meet payments to holders of Discount in dollars and under New York law (DICY, according to the ticket market). $ 292 million for those with the same bonus, but issued under local law (DICA). $ 2560 million to pay rent to those who treasure Discount in local currency (DISP). 225 million to meet the payments due to the holders of Euro Discount (DICE). ¥ 212 million for the bondholders (mainly Japanese) that have issued in yen Discount.

New York Times|

Policy

Saturday June 28th, 2014 | Published in print

Are the orders, but could only pay the bonus here and in Japan

These are the only credentials you are not involved the Bank of New York

By Javier Blanco | NATION

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The Central Bank (BCRA) attended to cancel orders on time and 21 ° Service Discount bond interest arising from the debt swaps fell into default in late 2001, the payment should be put after tomorrow.

The distributed to local depositories (Caja de Valores) and abroad (DTCC, Clearstrem, etc.) depending on the payments should be implemented by rotating the Bank of New York (BONY), in its capacity as agent appointed by the country.

But the instructions yesterday gave the judge Griesa to that entity, to remind the scope of its ruling last October, determined that after tomorrow are only able to charge the holders of the notes issued under Argentina law and registered accounts Caja de Valores (regardless if issued in pesos or dollars) and those who had under Japanese law.

The rest of the bondholders should stay waiting for the development of this dispute pound home with vulture funds to know what will happen to that money.

DETAILS OF PAYMENTS

Of the U.S. $ 1 billion yesterday paid U.S. $ 539 million (225.8 million euros and 230.92 million dollars) were admitted to the account of the Bank of New York Mellon at the Central Bank, as confirmed yesterday a legal representative that entity which went to court to confirm receipt of the money deposited by Argentina and see how they should proceed thereafter.

"Your bank has done nothing wrong, but the money must be returned to Argentina," said Griesa."Any attempt to pay the bondholders restructured without paying the plaintiffs is illegal" even warned the judge.

For jurisdictions that should cover swaps falling to regularize debt defaulted in late 2001, the Discount was a bond issued in four currencies (pesos, dollars, euros and yen) and under four different laws (Argentina, U.S., Luxembourg and Japanese).

Payment orders new service income, the highest since it was placed because it cancels the rate of complete interest of 8.28% which was issued (here capitalized a portion of it) were distributed as follows, as managed to confirm the NATION last night:

• U.S. $ 230.9 million to meet payments to holders of Discount in dollars and under New York law (DICY, according to the ticket market).
• $ 292 million for those with the same bonus, but issued under local law (DICA).
• $ 2560 million to pay rent to those who treasure Discount in local currency (DISP).
• 225 million to meet the payments due to the holders of Euro Discount (DICE).
• ¥ 212 million for the bondholders (mainly Japanese) that have issued in yen Discount.

As shown in the situation resulting from the hearing held in New York yesterday, the payments were formally blocked are to be performed in the United States and the euro area. The rest of accreditation could be normal to not be involved in them the Bank of New York.

Even the NATION last night was able to confirm that payment in Argentina is without problems, as the Caja de Valores had informed local operators had been instructed to do so.

If so, the day after tomorrow Argentina has met with little less than half of committed payments by maturity of coupon interest. The rest, for now, we shall be in ..