NEW YORK, May 23, 2020 /PRNewswire/ -- The Ad Hoc Group of
Argentina Exchange Bondholders (the "Exchange Bondholder Group")
today issued the following statement:
The Republic of Argentina has
invited certain representatives of the Exchange Bondholder Group to
sign a non-disclosure agreement in contemplation of engaging in
negotiations with the Ministry of Economy regarding Argentina's debt restructuring. It is
understood that representatives of certain other creditor groups
have also been asked to sign non-disclosure agreements for the same
purpose.
Contrary to comments from unnamed sources in the Argentine
media, the Exchange Bondholder Group remains committed to the
comprehensive restructuring proposal it submitted to Argentina on May 15,
2020 and has made available on the Group's website. A
detailed explanation of the Exchange Bondholder Group
counterproposal can also be found on its website. This
proposal provides significant debt relief to Argentina and beyond doubt provides a
sustainable debt structure for Argentina in respect of Exchange Bonds, and
represents a good faith compromise while protecting key rights of
Exchange Bondholders under the 2005 Indenture.
Please visit The Exchange Bondholder Group's site,
argentinaexchangebondholders.com for additional important
information related to Argentina's
restructuring and the Group's proposal. You can also follow us on
twitter at @Argexchangebond.
The Exchange Bondholder Group is comprised of 18 investment
institutions and collectively holds over 15% of the outstanding
Exchange Bonds issued by Argentina
under its 2005 indenture and 2010 indenture supplement.
Exchange Bonds were issued to investors who participated in the
2005 and 2010 debt exchanges, through which bondholders voluntarily
accepted large reductions in net present value to assist
Argentina's recovery from the 2001
default.
Media Contacts:
Unboxed Communications
argentina@unboxedcommunications.com
Spanish Language Media:
Juaniramain@infomedia.consulting