BUENOS AIRES, July 30 A consortium of Argentine
banks is set to offer to buy out the country's debt held by
holdout investors suing Argentina, in an eleventh-hour deal
aimed at averting a default, a senior banking executive familiar
with the offer told Reuters on Wednesday.
The executive said there had not yet been any discussions
with the New York hedge funds leading the litigation and that
the offer would require them to take a haircut.
"The idea is to sit down with the funds and buy all their
debt. We have to negotiate the final amount, the terms and how
payment will be made," the executive told Reuters.
(Reporting by Eliana Raszewski; Writing by Richard Lough;
Editing by James Dalgleish)