What do Ukraine, Sri Lanka, and Ghana have in common? They've all guaranteed bonds that once traded at a sizeable discount to their sovereign counterparts.
Unexpected Trading Dynamics in Sovereign-Guaranteed Debt | Morrison & Foerster LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
For the first time since 1918, when Vladimir Lenin repudiated the debts of the former Russian Empire, Russia has defaulted on its sovereign debt. It did so by failing to make a payment of approximately $100 million in dollars and euros to bondholders.The default came about not because Russia is short of cash Vladimir…