June 23, 2016 / 3:35 PM / 3 years ago

UPDATE 1-Argentina reaches US$95m settlement with Greylock Capital

(Updates with more details)

By Paul Kilby

NEW YORK, June 23 (IFR) - Argentina has reached a US$95m settlement with Greylock Capital, according to the mediator involved in talks between the South American country and holdout investors.

The payout is on bonds with an original nominal value of about US$68m, Daniel Pollack, the special master presiding over the negotiations, said in a statement on Thursday.

The deal marks yet another agreement with a large holder of defaulted bonds, including Elliott Management’s NML Capital and Aurelius Capital Management which settled with the sovereign earlier this year.

“This settlement leaves relatively few claims unresolved,” the statement said.

Some of the bonds that were paid were floating rate adjustable notes, known as FRANS. They will be paid out at 150% of the original nominal value, said the statement. (Reporting By Paul Kilby; editing by Shankar Ramakrishnan)

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