Japanese investors are set to suffer losses on part of the 191.5 billion yen worth of yen-denominated "samurai" bonds issued by the Argentine government due to its declaration of a default on its $132 billion debt, according to industry officials.
A total of 50,000 individuals, banks and companies have purchased the huge sum of bonds Argentina began issuing in Japan in 1996 in four installations, the officials said Tuesday.
The first batch of debt comes due next December. The holders of the bonds are set to incur losses, as Argentina will likely seek cuts in the amounts of repayable principal and interest, they said.