Tuesday, August 26, 2014

"Aurelius Said to Double NII Stake as Bankruptcy Path Is Readied" $NIHD

Bloomberg article

Aurelius Capital Management LP doubled its stake in some NII Holdings Inc. bonds to more than $500 million, seeking to gain a leading position among creditors as the mobile-phone carrier heads toward a possible bankruptcy, according to a person with knowledge of the matter. The distressed-debt investor that’s been labeled a 'vulture' by the government of Argentina bought more of NII's $500 milion of 8.875 percent bonds due 2019 and $800 million of 10 percent securities due 2016...

Aurelius and Capital Group Cos. plan to hold talks next week to decide how to split ownership of NII, paving the way for a possible pre-arranged bankruptcy plan, according to the person.

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