With Trump in goal oil would be a good investment |
You are well ahead on this well done share price moving. |
Good news in the offing I think burford going into the oil business via YPF shares grant |
Per Ashmore research
.."Argentina
Fitch upgraded Argentina’s sovereign credit rating from CC to CCC and maintained it under positive watch.
This reflects growing confidence in the government’s ability to meet upcoming foreign-currency bond payments without needing restructuring or relief.
The recent tax amnesty programme brought over USD 20bn into the economy, boosting reserves by USD 3.6bn since July.
However, Argentina faces significant debt obligations in 2025, with USD 4.3bn due in January and July, alongside USD 2.3bn in foreign exchange (FX) bond payments by the central bank and USD 2.7bn by provincial governments.
While the authorities are exploring several external financing options, none has been finalised yet..."
And - in another shift for Argentina - he's pulled out of COP 29, Baku.... |
Milei, the gift that keeps on giving...
hxxps://www.batimes.com.ar/news/economy/mileis-meeting-with-xi-signals-hes-come-full-circle-on-china.phtml
GLA |
SebGo Loretta Judge Loretta Preska, still unconvinced by the submissions from the U.S. Department of Justice and the judgment creditors, has ordered the parties to provide additional information specifically related to a precedent-setting case (Peterson v. Bank Markazi, No. 15-690-CV) to determine whether to order the transfer of ownership of YPF shares. |
So how much debt does burford or its subsidiary have? |
I like it they are having a bumper year, from presentations. I agree that it might indicate deployments are slowing, always prudent better to pay down debt in good years. Governments would do well to follow. |
In other news, YPF ADR that traded @ $10 a year ago and $ 24 last month is currently @ $ 32.
You can see why Argentina might be loth to see YPF brought into the settlement equation.
Makes the alter ego decision weightier, though
AFAICS
GLA |
May i ask, what typically would have pushed BUR to do this? Excess cash and so they reduce debt and coupon payments on existing debts? I guess they have to consider deployments too and balance that, but i guess that the recent good results allow them to do both |
$44m August 25 Bonds bought and will be cancelled. Leaving $135m Y25 bonds |
Milei is the first world leader to meet Trump since re-election. Buy BUR as part of the Trump trade.. |
Seb Bainbridge Fund files a letter to Judge Preska asking not to consider the Department of Justice Statement of Interest in support of the Republic.Bainbridge says that: "The Government's emphasis on "international comity" is particularly disconcerting. We are dealing with a foreign nation that has absolutely refused to enforce the judgments reached by the courts of the United States, and has otherwise made the enforcement of U.S. judgments difficult. This Court owes no comity to a nation that has consistently refused to recognize comity for the past quarter-century." |
Still waiting for Muddy waters and co’s predictions to come to fruition , pity they are not being pursued for outputting dodgy info for an alternative agenda . |
From online FT
Javier Milei eyes Donald Trump friendship to win IMF loan for Argentina
Libertarian leader seeks IMF loan while positioning himself as US president-elect̵7;s ally in culture war against the ‘woke’ left
GLA |
More from Seb Judge Loretta Preska grants YPF judgment creditors permission to file a response to the Department of Justice's opposition to the turnover motions. Creditors must submit their response by November 15. |
From Seb"Argentina and Titan Consortium reach an agreement on the terms and conditions of the judgment in the Aerolineas Argentinas expropriation case. Argentina will be required to pay USD 389.5 million, including interest, which will accrue from the judgment date at a variable rate currently set at 5.11%."It can and will be done on assumption all appeals by Argentina fail. Holding value by Burford off memory is 1.5b dollars. They hope for significantly more we will see. Sadly next year hopefully not next year in January. |
I’m Assuming market reaction to results is part due to the imminent decision on YFF ego. Even though we know governments position we still need decision from the judge. Thoughts? |
Thanks 357UV.Judge Preska wants to move things on.She must remain scrupulously neutral of course,but I can't help feeling she would like to attach the YPF shares as she attempted to direct Argentina when it came to the decision around the posting of the bond,which Argentina declined.( As one of the options put forward)
On balance,I think she will side with the defendants and acquiesce to the DOJ.I hope I'm wrong.
Looking ahead I think Burford may have to offer more carrot than stick.I would not be surprised that,after the appeal is lost by the defendants (the most likely outcome)that the incentive to get Argentina into real negotiations would be the offer to waive further post- judgement interest for,say,three/six months while a negotiated settlement is worked out,overseen by a mediator.Failure to agree within time frame would result in foregone interest added. |
* Judge Loretta Preska grants YPF judgment creditors permission to file a response to the Department of Justice’s opposition to the turnover motions. Creditors must submit their response by November 15. * |
Great results even without YPF case |
Note to self : GGAL ADR is currently @ $54 and YPF @ $30, both from around $ 10 a bare 12 months ago.
That has to help sentiment towards Argentina generally...
GLA |
Reasonably good results, a sniff of settlement with Argentina and a rather churlish share price reaction to a bond component - bought some more. |
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