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Reports: Banks Negotiating with Argentine Debt Holdouts

A group of banks may be about to buy some of the Argentine bonds owned by a group of creditors demanding repayment in full on their $1.5 billion stash of Argentine debt. A lawsuit brought by New York-based hedge fund NML Capital Ltd. prevented Argentina from making a scheduled $539 million debt payment last week to some of its bondholders. That forced the country to default on July 30. Reports on Monday were that several banks, including J.P. Morgan, Citibank and HSBC, were negotiating...

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