Argentina and a group of American hedge funds may soon end a 15-year battle.

Negotiating through a mediator, Argentina offered to pay six hedge funds that own the country's debt a total of $6.5 billion of the $9 billion it owes.

The hedge funds are referred to as "vultures" in Latin America because they buy bonds extremely cheaply, sue the countries for full repayment and often make a big profit once they're paid.
Two firms, Montreux Partners and Dart Management, agreed in principal to the terms of the deal Friday, according to the Argentine finance ministry. The firms could not be immediately reached for comment.
The primary hedge fund in the case is NML Capital, led by billionaire Paul Singer. It's believed that Singer wants 100% of the money his firm is owed. Argentina offered to pay roughly 72% of what it owes.
Negotiations began Monday and the offer was praised by the mediator, Daniel Pollack of New York law firm McCarter & English.
"The proposal by Argentina is an historic breakthrough," Pollack said in a statement Friday night. "The events of this week and today were an important step in resolving Argentina's debt crisis."
Pollack said that he'd spoken to Argentine president Mauricio Macri about the deal Friday.