NEW YORK, Aug. 4, 2020 /PRNewswire/ -- The Ad Hoc Group of Argentina Exchange Bondholders (the "Exchange Bondholder Group") confirms its support of the debt restructuring proposal announced by The Republic of Argentina on August 4, 2020.
This proposal also has the support of the Ad Hoc Group of Argentine Bondholders, the Argentina Creditor Committee and other significant holders and we encourage all creditors to join us, the other principal bondholder groups and additional significant bondholders in accepting this offer. The Exchange Bondholder Group thanks Argentina's representatives, as well as the bondholder groups and their advisors, for their constructive engagement and hard work towards reaching a consensual resolution.
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.
Please visit The Exchange Bondholder Group's site, argentinaexchangebondholders.com for additional important information related to Argentina's restructuring. You can also follow us on twitter at @Argexchangebond.
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SOURCE The Ad Hoc Group of Argentina Exchange Bondholders