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Here's Another Way Of Saying Paul Singer Just Told Argentina To Get On Its Knees | Tony Seruga
Mar
06

Here’s Another Way Of Saying Paul Singer Just Told Argentina To Get On Its Knees

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Who's your daddy?Who’s your daddy?

Our friends over at The Wall Street Journal must be as sorry as we are to see the Paul Singer-Argentina fracas fade into history. For one, they keep looking for (and finding!) new ways to describe just how much of a killing Elliott and its fellow vultures made in their recent deal. This time, it’s about a handy clause in the bonds that reset their coupons to the level other Argentina bonds were fetching on the secondary market. A funny thing happens to a country’s bonds on the secondary market when it stops paying them: They go up. A lot. In this case, to 101%…

Here’s Another Way Of Saying Paul Singer Just Told Argentina To Get On Its Knees

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