Bid/ask: Argentina’s debt deal; Barclays wants out of Africa
Argentina settles its bond debt to hedge funds. The country agreed to turn over a pile of cash to end a 14-year legal battle and pave its way back onto international bond markets. The largest creditors in the dispute, including hedge fund Elliott Management, will receive 75 percent of the money they claimed. Elliott’s haul will be 369 percent of the principal value of the bonds it bought.