Oferta de recompra y canje

English translation: buyback and swap offering

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Oferta de recompra y canje
English translation:buyback and swap offering
Entered by: Margarita Palatnik (X)

11:41 Apr 13, 2005
Spanish to English translations [PRO]
Bus/Financial - Economics / argentine debt
Spanish term or phrase: Oferta de recompra y canje
en Junio del 2004, la sociedad anunció la reestructuración de su deuda senior con una Oferta de recompra y canje que logró la aceptación del 92% de los títulos existentes. Con relación a la liquidación de la oferta, la sociedad efectuó los siguientes pagos: para la recompra de títulos US$ 40,5 millones; para el pago de intereses devengados correspondiente al canje de títulos US$ 9 millones
Eloisa Anchezar
Czech Republic
Local time: 23:02
buyback and swap offering
Explanation:
TROUBLE D COMPAN Y REPORTER LATI N AMERICA Monday, March 22, 2004 ...... OFFERING IN ARGENTINA OF THE PREFERRED SHARES IS BEING MADE BY ... for the debt buy-back came from the cash obtained from the ...bankrupt.com/TCRLA_Public/040322.mbx -

Global Finance: Argentina's Corporates Sidestep Sovereign Debt Debacle... 'Argentina's Corporates Sidestep Sovereign Debt Debacle' from Global Finance, ... restructured their debt have done so by offering to buy back defaulted ...
www.findarticles.com/p/articles/ mi_qa3715/is_200409/ai_n9447959 -

PDF] Appendix 8 -- IEO Evaluation Report -- The IMF and Argentina, 1991 ...... sources to finance a debt buyback or a debt swap. Argentina used both forms of enhancement, the first. in the case of the World Bank policy-based guaran ...
www.imf.org/External/NP/ieo/2004/arg/eng/pdf/app8.pdf -

Top News Article | Reuters.com... Argentina defaulted on its debt in January 2002, leading to the historic $102.6 billion debt swap that concluded last month. ...
www.reuters.com/newsArticle. jhtml?type=topNews&storyID=7949041 -

Search 2001-11-05 16:53:27 Argentina unveils plan Argentina ...... from international organizations for the swap or a debt buyback, contradicting earlier statements by Cavallo that Argentina would not seek international ...
latinbiznet.com/news/univ_news_img.php?mode=read& code=76&list_start=0&table=imgTodayNews&... -

[PDF] The Buyback Boondoggle ... expects to swap$8 billion ofits debt forequity investments during 1988. ... that a debt buyback reduces “debt overhang.” Debtors anticipate that ...
https://faculty-gsb.stanford.edu/ bulow/articles/The%20Buyback%20Boondoggle.pdf -

RRojas Databank: The Róbinson Rojas Archive.-Global Development ...... and associated market swap operations reduced developing countries’ debt to ... debt to be repurchased by NGOs (at the same price as the debt buyback ...
www.rrojasdatabank.org/v1appd3.htm -

Bailouts, IMF and International Lender of Last Resort... Argentina debt swap data due Tuesday--sources Reuters Feb 7, 2005 ... The Buyback Boondoggle (jstr) Jeremy Bulow; Kenneth Rogoff; Rudiger Dornbusch ...
www.stern.nyu.edu/globalmacro



--------------------------------------------------
Note added at 8 hrs 38 mins (2005-04-13 20:19:47 GMT)
--------------------------------------------------

Telecom recently announced that it has restructured about 87% of
its US$2.5 billion debt, paving the way for the biggest
corporate debt swap since Argentina\'s financial collapse in late
2001 and early 2002.

[PDF] NEW DEVELOPMENTS IN ASSET- BACKED COMMERCIAL PAPER
... test, the commercial paper offering must be conducted in ... swap with a
commercial paper conduit pursuant to which the ...
www.cadwalader.com/assets/ article/CrokePLIArticle1204

Maquiladora Industry (CIP) -- Debt/Equity Swaps
... realized a taxable gain in a Maquiladora program debt- equity swap. ...
For example, the company \"could argue that the step transaction doctrine should ...
www.dooley.co.uk/text/14maqdes.htm -

Debt/Equity Swap
... There are several reasons why a company may want to swap debt for equity. ...
a debt/equity swap could help avoid bankruptcy, or the company may want to ...
www.investopedia.com/terms/d/debtequityswap.asp

Swap
The sale of one security for the purchase of another. Bond swaps fall into three basic categories, although a given swap may have aspects of two or more of these:

Substitution Swaps: swaps done in order to improve upon one or more characteristics of the original bonds. Swaps done for yield pickup, quality improvement or change in call protection are in this category.

Intermarket Spread Swaps: swaps done in anticipation of a (favorable) change in the price or yield spread between the two issues from two different sectors of the market.

Rate Anticipation Swaps: swaps done in anticipation of a (favorable) change in the overall level of interest rates. Rate anticipation swaps generally consist of lengthening maturity and/or lowering coupon when bullish and shortening maturity and/or increasing coupon when bearish.
Selected response from:

Margarita Palatnik (X)
Local time: 18:02
Grading comment
thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
5buyback and swap offering
Margarita Palatnik (X)
3 +2buy-back and exchange offer
Mercedes L.
4re-purchase and exchange offer
Carlos Castro


  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
re-purchase and exchange offer


Explanation:
re-purchase and exchange offer

Carlos Castro
Native speaker of: Native in PortuguesePortuguese
Login to enter a peer comment (or grade)

36 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
buy-back and exchange offer


Explanation:
my suggestion...

Mercedes L.
Argentina
Local time: 18:02
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Ezequiel Fernandez
45 mins

agree  Muriel Vasconcellos: Without a hyphen.
5 hrs
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 5/5
buyback and swap offering


Explanation:
TROUBLE D COMPAN Y REPORTER LATI N AMERICA Monday, March 22, 2004 ...... OFFERING IN ARGENTINA OF THE PREFERRED SHARES IS BEING MADE BY ... for the debt buy-back came from the cash obtained from the ...bankrupt.com/TCRLA_Public/040322.mbx -

Global Finance: Argentina's Corporates Sidestep Sovereign Debt Debacle... 'Argentina's Corporates Sidestep Sovereign Debt Debacle' from Global Finance, ... restructured their debt have done so by offering to buy back defaulted ...
www.findarticles.com/p/articles/ mi_qa3715/is_200409/ai_n9447959 -

PDF] Appendix 8 -- IEO Evaluation Report -- The IMF and Argentina, 1991 ...... sources to finance a debt buyback or a debt swap. Argentina used both forms of enhancement, the first. in the case of the World Bank policy-based guaran ...
www.imf.org/External/NP/ieo/2004/arg/eng/pdf/app8.pdf -

Top News Article | Reuters.com... Argentina defaulted on its debt in January 2002, leading to the historic $102.6 billion debt swap that concluded last month. ...
www.reuters.com/newsArticle. jhtml?type=topNews&storyID=7949041 -

Search 2001-11-05 16:53:27 Argentina unveils plan Argentina ...... from international organizations for the swap or a debt buyback, contradicting earlier statements by Cavallo that Argentina would not seek international ...
latinbiznet.com/news/univ_news_img.php?mode=read& code=76&list_start=0&table=imgTodayNews&... -

[PDF] The Buyback Boondoggle ... expects to swap$8 billion ofits debt forequity investments during 1988. ... that a debt buyback reduces “debt overhang.” Debtors anticipate that ...
https://faculty-gsb.stanford.edu/ bulow/articles/The%20Buyback%20Boondoggle.pdf -

RRojas Databank: The Róbinson Rojas Archive.-Global Development ...... and associated market swap operations reduced developing countries’ debt to ... debt to be repurchased by NGOs (at the same price as the debt buyback ...
www.rrojasdatabank.org/v1appd3.htm -

Bailouts, IMF and International Lender of Last Resort... Argentina debt swap data due Tuesday--sources Reuters Feb 7, 2005 ... The Buyback Boondoggle (jstr) Jeremy Bulow; Kenneth Rogoff; Rudiger Dornbusch ...
www.stern.nyu.edu/globalmacro



--------------------------------------------------
Note added at 8 hrs 38 mins (2005-04-13 20:19:47 GMT)
--------------------------------------------------

Telecom recently announced that it has restructured about 87% of
its US$2.5 billion debt, paving the way for the biggest
corporate debt swap since Argentina\'s financial collapse in late
2001 and early 2002.

[PDF] NEW DEVELOPMENTS IN ASSET- BACKED COMMERCIAL PAPER
... test, the commercial paper offering must be conducted in ... swap with a
commercial paper conduit pursuant to which the ...
www.cadwalader.com/assets/ article/CrokePLIArticle1204

Maquiladora Industry (CIP) -- Debt/Equity Swaps
... realized a taxable gain in a Maquiladora program debt- equity swap. ...
For example, the company \"could argue that the step transaction doctrine should ...
www.dooley.co.uk/text/14maqdes.htm -

Debt/Equity Swap
... There are several reasons why a company may want to swap debt for equity. ...
a debt/equity swap could help avoid bankruptcy, or the company may want to ...
www.investopedia.com/terms/d/debtequityswap.asp

Swap
The sale of one security for the purchase of another. Bond swaps fall into three basic categories, although a given swap may have aspects of two or more of these:

Substitution Swaps: swaps done in order to improve upon one or more characteristics of the original bonds. Swaps done for yield pickup, quality improvement or change in call protection are in this category.

Intermarket Spread Swaps: swaps done in anticipation of a (favorable) change in the price or yield spread between the two issues from two different sectors of the market.

Rate Anticipation Swaps: swaps done in anticipation of a (favorable) change in the overall level of interest rates. Rate anticipation swaps generally consist of lengthening maturity and/or lowering coupon when bullish and shortening maturity and/or increasing coupon when bearish.


Margarita Palatnik (X)
Local time: 18:02
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 98
Grading comment
thanks!

Peer comments on this answer (and responses from the answerer)
neutral  Muriel Vasconcellos: As far as I know, a "debt swap" is a specific term for the International banks: a country agrees to make certain improvements (e.g. environmental) in exchange for forgiveness of their national debt.
2 hrs
  -> not necessarily, Muriel, there are corporate debt swaps, there are debt for equity swaps, etc. I have posted additional references...
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