NEW YORK, May 4, 2020 – — The Ad Hoc Bondholder Group, the Argentina Creditor Committee and the Ad Hoc Group of Argentina Exchange Bondholders collectively represent a large and diverse spectrum of holders of sovereign bonds of Argentina. Each group has already publicly rejected the commercial terms proposed by Argentina for the restructuring of Argentina’s external debt.
Each of the three bondholder groups and the institutions they represent, together with various other investors, wish to reiterate and make clear that they cannot support Argentina’s recently launched exchange offer, and will not tender their bonds in such offer, because, among other reasons, they consider the terms to require Argentine bondholders to bear disproportionate losses that are neither justified nor necessary. The three bondholder groups are nevertheless each prepared to constructively engage with Argentina when its government is ready to do so, with the common objective of finding a viable solution to the Republic’s current financial challenges.
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SOURCE White & Case LLP