July 30 (Reuters) - Argentina Economy Minister Axel Kicillof on Wednesday said the country offered a group of holdout creditors the same reduced payment terms it has agreed to pay other holders of its restructured bonds, but the holdouts refused the offer.
The holdouts, a group of hedge funds that bought the bonds at a steep discount following Argentina’s default on $100 billion of debt in 2002, also refused to ask a U.S. court to stay an order the blocks Argentina from paying its other creditors, Kicillof said at a press conference at Argentina’s consulate in New York.
His comments followed two days of intense talks between Argentina and the hedge funds at the offices of a court-appointed mediator.
Without a stay of U.S. District Judge Thomas Griesa’s order preventing Argentina from making the July 30 deadline - representing the end of a 30-day grace period - for a coupon payment on exchanged bonds, the country will fall into default for the second time in 12 years. (Reporting by Dan Burns, editing by G Crosse)