BlackRock, Fidelity form bondholder group ahead of talks

Money managers including BlackRock Inc. and Fidelity Investments launched a committee with White & Case LLP as legal adviser focused on Argentina's sovereign debt. This can become one of the most powerful creditor groups since BlackRock and Fidelity both rank among the six biggest reported holders of the country’s sovereign notes.

Economy minister warns of ‘deep debt restructuring’

Argentina’s economy minister, Martín Guzmán, warned bondholders to brace for significant losses as the country restructures its debt "focused on sustainability" amid an economic crisis. His comments at a congressional hearing on Wednesday set the tone for tense negotiations with sovereign debt bondholders, among them major investment funds such as BlackRock and Fidelity. He also said the government won't reduce its fiscal deficit in 2020.

BA province averts default and pays $277mn for BP21 bonds

Buenos Aires province will not default and will pay this week $250 million capital plus $27 million interest of bond BP21 originally due on Jan. 26, Governor Axel Kicillof said. The announcement came after failure of negotiations for getting agreement with 75% of bondholder over a delay until May 1, being Fidelity Investments the main group opposed to the deal. The province will use own resources to make payments.