More than eight years after it defaulted on some $82 billion of debt, Argentina soon hopes to close one of the most wretched chapters in its history as it reopens its controversial restructuring offer to recalcitrant investors.
The first deal in June 2005, which paid 33.7 cents on the dollar, was taken up by 76% of bondholders. Since then the 24% of investors that stayed out – predominantly hedge funds but also retail accounts – have taken drastic measures to recoup the full value of the bonds, including filing lawsuits in the...
