BLOOMBERG/ Bond holders could recoup as much as 54 cents on the dollar, an estimated 14% higher than yesterday’s price, in the planned restructuring of $20 billion of 2005 defaulted debt, according to distressed bond broker Exotix. Former President Nestor Kirchner offered creditors new securities worth about 30 cents per dollar in a debt swap five years ago and vowed never to renegotiate with those who rejected the offer.
