Francisco Industries, Inc. (FRAZ)

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Cuba Creditor Hires Lawyer Who Won Argentina Debt Settlement
By Ezra Fieser
May 3, 2018, 1:34 PM EDT Updated on May 3, 2018, 3:21 PM EDT

CRF is the largest debt holder in the London Club, a group of creditors with a total of more than $5 billion in defaulted commercial debt and back interest. The debt dates back to the 1970s and 1980s and trades at about 23 to 24 cents on the dollar, according to the creditors. The Cuban government has said it intends to clear such obligations as it seeks a return to international capital markets.

Cuba’s former President Raul Castro negotiated a settlement of $11.1 billion in sovereign debt to the Paris Club of creditors

A spokesman for CRF said the company wants to work with Cuba’s new government, under President Miguel Diaz-Canel, “to resolve issues so Cuba can return to the international markets.”

https://www.bloomberg.com/news/articles/2018-05-03/cuba-creditor-hires-lawyer-who-won-argentina-debt-settlement

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