Argentine CDS prices up, trepidation on gov't payment proposal

NEW YORK, April 1 Mon Apr 1, 2013 9:41am EDT

NEW YORK, April 1 (Reuters) - Investors bid up the price to insure Argentine sovereign debt on Monday, reacting to a court-ordered payment plan proposal for holdout investors that offers the same terms already rejected in 2010, thereby raising the possibility of a technical default.

According to data provider Markit, the annual cost to insure a $10 million portfolio of sovereign debt for five years rose to $3.471 million from $3.104 million on Friday.