Argentina can count on Highland Capital Management to buy its international bonds

Argentina was barred from the global markets after defaulting to pay its creditors in 2001 an amount of $91 by the U.S. Court orders. This was under the former President Cristina Fernandez after she violated the U.S. court orders to pay creditors. The newly elect president, Mauricio Macri has worked hard to regain the global market access and has reversed some of the policies that were there previously.

Argentina makes a comeback to the international bond markets to raise almost $12 billion. The plan according to the Finance Ministry officials is to settle a debt bill with creditors. Debts have been hindering the closing of deals with some of these creditors due to these debts. The country hopes to sell bonds with different maturities namely 10, 5 and 30 years the Congress on Friday was told.

The government will issue the international bonds under the New York law and hopes to improve the outlooks of the country’s fiscal policy and monetary status. Highland is an asset management fund that manages funds like hedge funds and credit funds in emerging markets amounting to $19 billion.

James Dondero is the co-founder and president of Highland Capital Management. The firm had been the biggest holder of $4 billion Argentina’s notes that are due in 2033. Dondero has been in the equity market for the last 30 years and is optimistic that the government of Argentina will price the debt and trade better as compared to other Latin American nations.

The firm is anticipating to be one of the primary winners after the U.S. District Judge gives a verdict that the country can go forward and pay its debt. Highland has gained from annualized returns on Argentina’s government.

Dondero is a pioneer of (CLO) Collateralized Loan Obligation market and offering credit-based solutions through his firm Highland Capital to retail investors and institutions worldwide.

Dondero is a Certified Public Accountant, Certified Management Accountant, and Chartered Financial Analyst. Dondero is the chairperson of Cornerstone Healthcare, NexBank, and CCS Medical and is a member of American Banknote and MGM Studios.

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The main article can be found on Bloomberg

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