A major Argentina creditor group said on Saturday it had been invited to sign a non-disclosure agreement by Argentina's government, signaling that talks could be moving to the next phase after the South American country defaulted a day earlier.
BUENOS AIRES - A major Argentina creditor group said on Saturday it had been invited to sign a non-disclosure agreement by Argentina’s government, signaling that talks could be moving to the next phase after the South American country defaulted a day earlier.
It is common during debt restructurings for creditor committees to agree to limit the flow of information near the end of talks, as some of it may be material and non-public, a source from another creditor committee said. In some cases when multiple creditor groups are involved, as is the case with Argentina, a non-disclosure agreement is introduced, the source said.
At least one main creditor group has signed the non-disclosure agreement, a source from that committee said.Despite missing the deadline on Friday, a source close to the negotiations and familiar with the government’s thinking told Reuters on Friday that talks could reach a breakthrough “in a matter of days.”
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