Argentina: Exchange offer invitation to bondholders

The Ministry of Economy published Decree 391/2020 with the official exchange proposal for the debt under foreign law.

The attached press release contains the list of eligible securities and sets forth the proposed consideration for each eligible security, which shall be in the form of new bonds to be issued by the Government.

The offer was declared effective by the United Stated Securities and Exchange Commission on 21 April 2020 and will expire at 17:00 EDT on 8 May 2020. The expiration date and time may be extended or earlier terminated by the Republic.

We will further investigate this with our local agents and will advise customers accordingly.

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