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James Dondero Moves to Argentina


When Argentina makes its return to the International bond markets in April, it aims at raising almost $12 billion. Asset Management Fund Highland Capital Management LP is expected to be one of the buyers. The president of Highland Management James Dondero says they are looking to snap up “significant amounts.” Dallas-based Highland has been the top holder of Argentina’s $4 billion of notes. This was before it paired its holdings over the past six months. When Highland Management makes this investment Argentina will benefit by paying for settlements with holdout creditors, one of whom is billionaire Paul Singer. It is also likely that distraught investors who have piled into Argentina will still buy the country’s debt.

Jim says they can predict where Argentina is likely to price the debt, considering the other Latin American countries. They are planning to buy some of the new issuance, while still keeping the original bonds. The country intends to issue $11.68 billion bonds which will yield 7.5-8.0% in April. This is as reported by the Finance Ministry officials when they tabled a debt bill. These changes have come to place with the new government under Mauricio Macri.  Mr. Dondero stated that he will not only invest in sovereign debts but is also looking forward to starting an Argentina Fund.

James Dondero, the President, Co-Founder, Portfolio Manager and Managing Partner of Highland Capital Management. He lives in Dallas, TX and boasts of over three decades of experience in equality and credit markets. HCM was founded in 1993 and has been a pioneer in facilitating development of credit oriented solutions. Since May 15, 2015 has served as the President and Chairman of Board of Directors at NexPoint Hospitality Trust Inc.

He was the Chief Investment Officer of Protective life’s GIC subsidiary 1989 to 1993. He served as the Chairman and Director of Prospect Street Income Shares Inc. and Phy since July 2001 and the Director of Terrestar Corporation since July 2002, Prospect High Income Portfolio since January 2000 and Leap Wireless International Inc. from August 2004 to September 2007. He has served as Director of Cricket Communications Inc. James graduated with a Bachelor of Science in Commerce from University of Virginia in 1984.

This article recapped http://www.bloomberg.com/news/articles/2016-03-08/argentina-luring-highland-shows-distressed-bond-buyers-to-stay

  1. Garrett Nephilim

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