But the deal, it seems has fallen through.
In a statement posted by Reuters, one of the hedge fund creditors, Aurelius Capital, said that the deal being forged by Deutsche Bank, JP Morgan, Citigroup and HSBC and others was simply not good enough to satisfy the group, which has been holding out for a 100 cent on the dollar payment on their investment.
"That engagement has convinced us that there is no realistic prospect of a private solution," Aurelius said in a statement.
"No proposal we received was remotely acceptable. The entities making such proposals were not prepared to fund more than a small part, if any, of the payments they wanted us to accept. One proposal was withdrawn before we could even respond. And no proposal made by us received a productive response."