LONDON (Alliance News) - Holdout creditors are demanding information from HSBC Holdings PLC about Argentina's effort to raise cash, as the government seeks to end a 14-year standoff that has kept the nation out of international credit markets, Bloomberg reported.
The creditors last week served HSBC with a subpoena for documents on the bank's involvement in the country's attempt to raise money abroad, the report said.
According to the report, the holdouts, led by hedge funds Elliott Management and Aurelius Capital Management LP, are trying to learn whether a loan of more than USD5 billion that Argentina is seeking from international banks would violate a court order limiting its ability to raise money offshore. The creditors may also serve other banks with subpoenas.
The move is a sign that the creditors are keeping pressure on the nation even as Finance Secretary Luis Caputo prepares to begin talks with bondholders in early January.
Copyright RTT News/dpa-AFX
HSBC Holdings (HSBA)