Argentina appals investors with 75% 'haircut' demand

Thousands of investors are threatening to take legal action against the Argentine government after the sovereign brought the debt restructuring process to a juddering halt this week with demands for a 75% haircut on its $94.3bn of defaulted debt.

  • 26 Sep 2003
Argentina's proposal to slash the amount it will eventually pay back, made at the World Bank/IMF meeting in Dubai this week, values Argentine debt at around 15¢-20¢ on the dollar. This compares with a 28¢-29¢ trading level on its benchmark 2008s and the range of 30%-40% debt forgiveness ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 344,473.92 1340 8.09%
2 JPMorgan 340,456.96 1464 8.00%
3 Bank of America Merrill Lynch 305,654.09 1051 7.18%
4 Barclays 256,667.84 965 6.03%
5 Goldman Sachs 227,104.06 767 5.34%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 46,952.57 194 6.54%
2 JPMorgan 46,108.71 102 6.43%
3 UniCredit 39,106.98 168 5.45%
4 Credit Agricole CIB 36,670.04 182 5.11%
5 SG Corporate & Investment Banking 35,773.91 138 4.99%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 14,088.48 62 8.97%
2 Goldman Sachs 13,469.15 66 8.58%
3 Citi 9,948.21 58 6.34%
4 Morgan Stanley 8,572.10 54 5.46%
5 UBS 8,391.04 36 5.34%