Argentina to Reopen 2005 Debt Restructuring

By MATTHEW COWLEY BUENOS AIRES – Argentina's government on Thursday began the process of reopening a 2005 debt swap, in an attempt to attract some of the $20 billion in face value of defaulted bonds that are still in circulation. The government would like to see at least 60% of those bonds included in the new reopening, Economy Minister Amado Boudou said. On Friday, the government will begin filing documents with securities regulators in the U.S., Germany and Italy, among others, to allow the debt swap to be reopened, Mr. Boudou told reporters. On Monday, the government will send a bill to Congress which will temporarily suspend an existing law which prevents any debt reopening, the minister said. The government will mandate Barclays, Citigroup and... [read full story]                    

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