Titoli di Stato area non Euro ARGENTINA obbligazioni e tango bond



Sebastian Maril

@SebastianMaril



[HOLDOUTS] Attestor Master Value (Islas Caimán) y Trinity Investments (Irlanda), presentan a la Juez Preska los lineamientos para comenzar Discovery contra Argentina.
- Tienen fallo favorable por USD 230,7 millones.
- El país aun no ha abonado.
- ¿Embargos, cautelares?



Immagine


Immagine
 
YPF Acknowledges Support of the SteerCo Bondholder Group for its Exchange Offers and Consent Solicitations and Encourages Remaining Eligible Bondholders to Tender their Eligible Bonds Prior to the Expiration Date






BUENOS AIRES, Argentina, Feb. 2, 2021 /PRNewswire/ -- YPF Sociedad Anónima ("YPF" or the "Company") takes note of the press release issued by SteerCo Bondholder Group supporting the Company's exchange offers and consent solicitations described in the Exchange Offer and Consent Solicitation Memorandum dated January 7, 2021, as most recently amended on February 1, 2021 (the "XO&CSM"). Capitalized terms used herein and not otherwise defined shall have the meaning ascribed to them in the XO&CSM.

Institutions claiming to hold 45% of the 2021 Old Notes, who have not identified themselves publicly, today stated their unwillingness to participate in the Exchange Offers. Since the launching of the transactions on January 7, 2021, the Company has engaged in good faith with market participants. YPF incorporated constructive feedback by amending its offers, to the extent permitted by applicable regulations and cognizant of its financial limitations. Those institutions, however, only very recently approached the Company. The requests submitted to management, as recently as the past weekend, were carefully considered by the Company´s Board of Directors in spite of the well-known time constraints. The Company responded promptly by adjusting the terms of its offers, reconciling the requests to the applicable regulatory framework and the Company's realistic assessment of available FX liquidity.

As more fully explained in the XO&CSM, the Company's proposal addresses restrictions arising under Argentine foreign exchange regulations that limit its ability to honor in full principal amounts due under its 2021 Old Notes at maturity, on terms that protect the value of holders' investments. Furthermore, by allowing holders of a wider range of the Company's outstanding notes to participate in the exchange offers, the Company has provided a basis for all holders of YPF's eligible bonds to gain access to a one-time offering of a secured export-backed notes by supporting a transaction also designed to enhance the Company's ability to deploy investments needed to develop its oil and gas assets, given current limitations in accessing the capital markets for reasons that are beyond the Company's control.

In sum, a successful transaction will be beneficial to participating holders of all of YPF's Old Notes, in that it will overcome the constraints arising under applicable foreign exchange regulations and make room for the deployment of capital investments. If instead, the transactions contemplated in the XO&CSM, which have been approved by the Company´s Board of Directors, are not successfully accomplished, any restructuring alternatives that YPF may be able to implement could be on terms less favorable to the holders of Old Notes. There is a risk that the ability of the holders of Old Notes to recover their investments may be substantially delayed and/or impaired if the proposed transactions are not consummated. The market price of the Old Notes may decline and the ability of the holders of Old Notes to recover on their investments could be significantly eroded.

For these reasons, the Company encourages all eligible holders of Old Notes to consider carefully the terms set forth in the XO&CSM, and to participate in the transactions with a view to contributing to the preservation of their investments.

 

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