product launch | holders of defaulted paper can exchange them for units in the fund
Merchant Bankers Associados (MBA) and Emergent Asset Management are set to launch a fund that invests in Argentine defaulted government debt. The Patagonia Argentine Recovery Fund is designed to take full advantage of the recovery in Argentina through the exchange of defaulted Argentine government debt for units in the fund, or through cash investments. The fund offers holders of defaulted paper an alternative to simply holding their defaulted bonds and passively awaiting an eventual restructuring, which, given its magnitude, the diffuse number of investors involved and the fact that th...
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