August 28, 2013 / 12:25 PM / in 4 years

Argentina bill would leave open sovereign debt restructuring

BUENOS AIRES, Aug 28 (Reuters) - Argentina will leave open the third restructuring of its sovereign debt indefinitely under a bill President Cristina Fernandez submitted to Congress on Tuesday, luring bondholders still holding debt from its $100 billion default in 2002.

Argentina lost an appeal on Friday of a U.S. court order requiring it to pay $1.33 billion to the holdouts who refused to accept steep discounts on the defaulted debt. The government is appealing the ruling and trying to swap its foreign debt for Argentina bonds beyond the reach of U.S. law.

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