Argentine newspaper Ambito reports that foreign banks including Citi, JPMorgan and HSBC are interested in buying the defaulted bonds from the vulture funds including Elliott Management.
The number $1.4 billion is the number being tossed around, which is close to the $1.5 billion owed to the vulture funds (though interest adds to it).
To me it sounds like some kind of deal has been reached to make the holdouts whole (or nearly whole) in the new year. I guess that the banks must be willing to buy the bonds at a slight discount in exchange for holding them for another 4 months with the understanding they will be paid then.
Bottom line: It looks like some kind of deal is close.
