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为削减破产波多黎各240亿美元债务达成协议

2020-2-10 11:09

 

据路透社报道,波多黎各联邦政府成立的金融监管委员会与债券持有人达成协议,波多黎各将摆脱约240亿美元的债务,离退出破产更近一步。


该协议将削减350亿美元的债券和声称约110亿美元,因为它增加的一般义务(去)和公共建筑权威(PBA)债券持有人签署一项计划,政府债务重组的核心和超过500亿美元的退休金,董事会在9月美国地方法院提起的。


2017年5月,这个加勒比海岛国开始了一种形式的市政破产,以重组约1200亿美元的债务和负债。仅仅几个月后,居民们不得不忍受毁灭性的飓风和最近一个多世纪以来最强烈的地震。


在周日的一份声明中,监督委员会主席Jose腐肉称,该交易“降低债务总额支付相对于去年我们达成协议,支付联邦债务早,和具有更强的债券持有人的支持,进一步促进波多黎各退出破产,延伸了三年”。


然而,该协议面临波多黎各总督旺达·巴斯克斯的反对,因为它没有取消拟议的养老金削减。


根据协议,GO债券和PBA债券的持有人将分别面临29%和23%的平均减记,低于9月调整计划中36% - 65%的减记幅度。


该委员会的目标是在2012年和2014年出售超过60亿美元的GO债券用于低回收率,理由是这些债券的发行违反了波多黎各的宪法债务限额。


该协议将结束董事会在法庭上宣布这些债券无效的努力,也将消除持有这些债券的人在债券无效后无法收回投资的风险。


董事会表示,债权人将获得107亿美元的新债务,其中包括GO债券和销售税担保的次级留置债券,以及38亿美元的现金。它还将偿还台湾遗留债务的时间从30年缩短到了20年。


阿根廷副总统克里斯蒂娜·费尔南德斯·德基什内尔(Cristina Fernandez de Kirchner)表示,在阿根廷走出衰退之前,政府不会向国际货币基金组织(imf)偿还“哪怕是0.5美分”的债务。


在哈瓦那国际书展上,费尔南德斯•德基什内尔(Fernandez de Kirchner)在她的新书《amente (Sincerely)》的发布会上说:“为了能够支付,我们必须做的第一件事就是摆脱经济衰退。”


“如果出现经济衰退,没有人愿意支付哪怕半美分,而摆脱衰退的方式是通过大量的政府投资。”


阿根廷需要重组1000亿美元的主权债务,包括国际货币基金组织2018年向该国提供的570亿美元信贷安排的一部分。


与国际货币基金组织的交易是关键,因为阿根廷希望在货币崩溃、通货膨胀和经济萎缩的情况下避免违约。国际货币基金组织的一个技术代表团预计下周将在布宜诺斯艾利斯讨论欠该组织的债务。


费尔南德斯•德基什内尔(Fernandez de Kirchner)表示,阿根廷应大幅削减其在IMF的债务。

 

Puerto Rico would shed about US$24 billion of debt and move closer to exiting bankruptcy under an agreement with bondholders announced by the US commonwealth’s federally created financial oversight board, Reuters reports.

The deal would cut US$35 billion of bonds and claims to about US$11 billion as it increases the ranks of general obligation (GO) and Public Buildings Authority (PBA) bondholders that signed onto a plan to restructure core government debt and more than US$50 billion in pension obligations that the board filed in US District Court in September.

The Caribbean island commenced a form of municipal bankruptcy in May 2017 to restructure about US$120 billion of debt and liabilities. Just months later, residents had to endure devastating hurricanes and more recently the strongest earthquake in more than a century.

In a statement on Sunday, Oversight Board Chairman José Carrión said the deal “lowers total debt payments relative to the agreement we reached last year, pays off commonwealth debt sooner, and has significantly more support from bondholders, further facilitating Puerto Rico’s exit from the bankruptcy that has stretched over three years”.

However, the deal faces opposition from Puerto Rico Governor Wanda Vazquez because it does not roll back proposed pension cuts.

Under the agreement, bondholders would face average value reductions of 29 percent for GO bonds and 23 percent for PBA bonds, which is lower than haircuts of 36 percent to 65 percent that were included in the September plan of adjustment.

The board had targeted more than US$6 billion of GO bonds sold in 2012 and 2014 for low recoveries, contending they were issued in violation of Puerto Rico’s constitutional debt limit.

The deal would end the board’s pursuit to void those bonds in court and the risk that hold-out bondholders would recover none of their investment if the debt were invalidated.

Creditors would receive US$10.7 billion in new debt, split between GO bonds and sales tax-backed junior lien bonds, along with US$3.8 billion in cash, the board said. It also shortens the timeframe to pay off the island’s legacy debt to 20 years from 30 years.

In Argentina, Vice President Cristina Fernandez de Kirchner said the government will not pay “even half a cent” of its debt back to the International Monetary Fund before the country has exited recession.

“The first thing we have to do in order to be able to pay is to exit the recession,” Fernandez de Kirchner said at a presentation of her book, Sinceramente (Sincerely), at Havana’s international book fair.

“If there is a recession no-one will pay even half a cent and the way you exit recession is through a lot of state investment.”

Argentina needs to restructure US$100 billion in sovereign debt with creditors, including part of a US$57 billion credit facility that the IMF extended the country in 2018.

Dealings with the IMF are key as Argentina hopes to avoid a default amid a currency crash, steep inflation and a contracting economy. An IMF technical mission is expected in Buenos Aires next week to discuss obligations owed to the fund.

Fernandez de Kirchner said Argentina should get a “substantial haircut” on its IMF debt.

 

来自: ejinsight