Buenos Aires amends and extends consent bid for 10 7/8% notes

Wendy Van Sickle

Columbus, Ohio, Feb. 3 – The Province of Buenos Aires announced it is amending and extending the deadline of its solicitation of consents from holders of its outstanding 10 7/8% notes due 2021 (ISIN: XS0584497175 and XS0584493349) that seeks to approve some amendments to the terms and conditions of the notes.

The consent solicitation now expires at 4 a.m. ET on Feb. 4, pushed back from 11 a.m. ET on Feb. 3, and before that, from 11 a.m. ET on Jan. 31 and 11 a.m. ET on Jan. 22, according to a press release issued on Monday.

Additionally, the solicitation is being amended, such that the portion of the amortization payment that was originally due on Jan. 26 and is being postponed to May 1 will be 70% of such payment, $174,982,500, and the province will pay the remaining 30%, or $74,992,500, within the grace period provided for in the indenture.

As announced on Jan. 14, the purpose of the proposed changes is to temporarily relieve the province from some of its short-term financial obligations by deferring the next principal payment date to May 1 from Jan. 26.

To become effective, the proposed amendments require consent from holders of at least 75% of the existing bonds.

Holders may obtain a copy of the consent solicitation document by contacting Morrow Sidali Ltd. (pba@investor.morrowsodali.com or +44 20 7355 0628 / +44 20 7355 0615 or through https://bonds.morrowsodali.com/pba).

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