Wednesday, 28 January 2009

Cristina Fernandez, Argentina Head of State, to Address the LG Swap Issue in Presser Today, Sources Tell Us

The formal announcement of the results of the swap of Guaranteed Loans (known as Prestamos Garantizados in Spanish language) will be announced by President Cristina Fernandez Kirchner tonight(4:30 p.m. New York time.) Cristina, yet, doesn't have a good record of starting pressers on time.

Anyways, rumour has it that the amount swapped topped $3 billion worth of PGs that mature between 2009 and 2011 (the PGs eligible for this swap are pegged to the 2008 global bond and the 2006 Bonte among others.) About $9 billion of PGs mature by 2011.

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