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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (10716)	3/26/2002 8:33:33 AM
From: Bucky Katt	Read Replies (1) of 13094

Argentina Fails to Make Payment on 61.5 Bln Yen Samurai Bond By Takashi Ueno Tokyo, March 26 (Bloomberg) -- Argentina failed to make a payment on a Samurai bond due in 2005, said bankers working in the Japanese market, the latest failure to pay interest after the government defaulted on about $95 billion of debt. The interest payment of about 1.5 billion yen ($11 million) was the first due on 61.5 billion yen of 4.85 percent bonds sold by Argentina in August. Nikko Salomon Smith Barney Ltd. and Nomura Holdings Inc. arranged the sale. The paying agent for the bonds is Bank of Tokyo- Mitsubishi Ltd., according to Bloomberg data. Officials at the banks declined to comment. The Samurai market, where overseas companies sell bonds to investors in Japan, has dried up since Argentina stop paying its debts and the bankruptcy of Enron Corp. caused losses among Japanese bondholders. Samurai offers have fallen to 26 billion yen this year, a sale by International Business Machines Corp. being the only one, compared with 345 billion yen in the first quarter 2001, according to Bloomberg data

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