The Italian savers involved in the Tango bond case will be repaid by June. The Treasury of Buenos Aires and the Task Force Argentina (Tfa) have signed the definitive agreement to resolve the dispute of the approximately 50 Italian bondholders who have held Argentine bonds in default since 2001.
The defined agreement was signed in New York in the offices of White and Case and provides for the payment in cash equal to 150% of the original nominal amount of the bonds by the end of June 2016. The money destined for the repayments will be deposited today in a blocked account at a major international financial institution. Upon completion of all formalities, individual bondholders will receive redemptions at their relevant banks.
The president of the Argentina Task Force, Nicola Stock, expressed “great satisfaction with the excellent and fair conclusion of an affair that lasted too many years, which could help normalize relations between Argentina and the international financial markets. Thanks go to the Italian bondholders who have placed their trust in our action and will now reap the fruits of their courage and the continuous and active commitment of the TFA”.
