Argentina's Debt Settlement Ends 15-Year Battle

The hedge funds refused to accept a steep discount in two restructurings over the years, while others took 30 cents on the dollar. The agreement announced on Monday gives the four holdouts -- Paul Singer's NML Capital, Mark Brodsky's Aurelius Capital Management, Davidson Kempner Capital Management and Bracebridge Capital -- 75 percent of their claims. Two other hedge funds struck an earlier agreement for 75 percent of their claims. The deal is subject to approval by Argentina's Congress.