la plata, Buenos Aires, ArgentinaAnd August. 6, 2021 /PRNewswire/ – County Buenos Aires (the “Governorate“) today announced the revised terms and conditions of the boycott’s call to some of its foreign-currency foreign bond holders to exchange those instruments for unused bonds to be issued by the boycott (“)invitation‘), initially set out in the convocation memorandum dated as of April 24, 2020, as amended prior the date of this law (“original invitation“).
Since the original invitation was first launched in April 24, 2020The county has held abundant rounds of interactions with creditor representatives and advisors. During this process, the county sought to reconcile distinct investor views on distinct aspects of the original advocacy. On 20 July 2021The county and some institutional investors who grip qualifying bonds, including GoldenTree Asset Management LP, the largest owner of the eligible bonds, have reached an agreement that would allow those investors to support the province’s debt restructuring proposal and grant the province significant debt relief. The original invitation has been revised in furtherance of this agreement.
The Territory has published an amended and rephrased memorandum of invitation, dated August 6, 2021 Define modifications to the invitation (“Modified invitation note“). Capitalized terms used but not otherwise defined here shall have the meaning ascribed to them in the amended call note. The province encourages all investors to consider the amended terms of its call, which provide some relief as the province works toward economic recovery.
Eligible holders who have given instructions to submit their Qualifying Debentures in connection with the original call prior to the date of this Agreement and have not rescinded such instructions prior to expiration will be deemed to have given instructions, including receipt of unused debentures, in accordance with the terms and conditions of the invitation as set out in the amended Invitation Note.
The boycott extended the invitation expiration date from 5:00 pmAnd New York City time on August 13, 2021, Even 5:00 pm, Central European Time, dated August 27, 2021 (the “Expiration“). The date of announcement of results must be in August 30, 2021 or as soon as practicable thereafter, the date of implementation, the effective date and the settlement date shall be on September 3, 2021 Or as soon as practicable thereafter, but in no case following that September 17, 2021.
The county has engaged BofA Securities, Inc. and Citigroup Global Markets Inc. To act as dealer managers of the call. DF King acts as an agent for exchange, scheduling and information. Any questions or requests for assistance regarding the call may be directed to BofA Securities, Inc. At +1 (888) 292-0070 (toll-free), +1 (646) 855-8988 (collecting), or Citigroup Global Markets Inc. At + (800) 558-3745 (toll-free) and +1 (212) 723 6106 (collect).
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Qualifying Debentureholders, or custodians of such Eligible Debenture holders, may obtain a copy of the Invitation Note by contacting the Agent Administrators by calling any of the overhead numbers or DF King at his email address (PBA@dfkingltd.com) or telephone number ( +44 20 7920 9700 or +1 212-232-3233) or by download, following registration, via: https://sites.dfkingltd.com/PBA
This advertisement is not an offer of securities for sale in United State, and none of the unused securities (as defined in the solicitation note) have been or will be registered under the United States Securities Act of 1933, as amended (“Securities LawIt is not permissible to display or sell it inside United State or for, for, or for the benefit of, U.S. Persons except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act. This press release does not constitute an offer to sell unused securities, or a solicitation of an offer to purchase any securities, in any state or other jurisdiction in which any offer, solicitation or sale would be unlawful. Any person contemplating making an investment decision with respect to any such securities shall independently inform themselves on the basis of an Offer Memorandum to be made to competent investors in the coming in relation to any such securities prior to making any such investment decision.
This announcement is directed only to beneficial owners of Qualifying Securities who are (a) “Qualifying Institutional Buyers” as defined in Rule 144A under the US Securities Act of 1933, as amended (the “Securities Act”) or (b) (o) Abroad United State as defined in Regulation S under the Securities Act, (y) if it is located within a Member State of the European Economic Area (“”European Economic Area“) (each “Relevant Country”), “Qualified Investors” as defined in Regulation (EU) 2017/1129 (as amended,”Newsletter List‘), (z) if it is inside United kingdom (“United kingdom“), “Qualified Investors” as defined in the prospectus regulation as it forms part of the domestic law under the European Union (Withdrawal) Act 2018 (“EUWA“) and (zz), if outside the European Economic Area or the United Kingdom, is eligible to receive this offer under the laws of their (each) jurisdiction.Eligible pregnant womanNo offer of any considerate shall be made to any beneficial owner of a Qualifying Debenture who does not meet the overhead criteria or to any other beneficial owner located in a jurisdiction where the solicitation is not permitted by law.
Distribution of advocacy-related material may be restricted by law in some jurisdictions. The invitation is void in all jurisdictions where it has been prohibited. If you obtain advocacy-related materials in your possession, the county will require you to inform yourself of and examine all such restrictions. The solicitation material, including this communication, does not constitute, and may not be used in connection with, an offer or solicitation in any location where offers or solicitations are not permitted by law. If the jurisdiction requires that the invitation be made by a licensed broker or dealer, and the principal of the merchant or any affiliate of the principal of a dealer is a broker or dealer licensed in that jurisdiction, the invitation shall be deemed to be made by the principal of the merchant or such affiliate on behalf of the county in that jurisdiction.
All statements in this press release, other than statements of historical facts, are forward-looking statements. These statements are based on expectations and assumptions at the date of this press release and are subject to various risks and uncertainties that could cause actual results to differ materially from those shown in the forward-looking statements. Risks and uncertainties include, but are not limited to, market conditions and factors that the District has no control over. The District has no obligation to update these forward-looking statements, and does not intend to do so, unless otherwise required by law.
Notice to investors in the European Economic Area
The New Bonds are not intended to be offered, sold or otherwise made available, and should not be offered, sold or otherwise made available to any retail investor in the respective country. For these purposes, “retail investor” means a person who represents one (or more) of: (i) a retail customer as defined in point (11) of Article 4 (1) of Directive 2014/65/EU (as amended, “MiFID II“); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended,”Insurance Distribution Guidance‘), where such Client does not qualify as a Professional Client as defined in Point (10) of Article 4 (1) of MiFID II; or (3) does not qualify as a Qualified Investor as defined in the Prospectus Regulations. Thus no background document is required Pursuant to Regulation (EU) No 1286/2014 (as amended), “List of PRIIPs“) to offer, sell or otherwise make available to retail investors in a pertinent country, and therefore the offer, sale or otherwise made available to any retail investor in a pertinent country may be illegal under the PRIIP Regulation.
Notice to investors in United kingdom
The New Bonds are not intended to be offered, sold or otherwise made available, and should not be offered, sold or otherwise made available to any retail investor in the UK. For these purposes, a retail investor means a person who represents one (or more) of the following: (i) a retail customer, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as they form part of local law under EUWA; (ii) A customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where such customer does not qualify as a professional customer, as defined in point (8) of Article 2(1) of the Regulation (EU) No. 600/2014 as it forms part of the local law under EUWA law; or (iii) is not a Qualified Investor as defined in Article 2 of the Prospectus Regulations as it forms part of local law under EUWA law. There is therefore no background document required under the PRIIPs Regulation as it forms part of the local law under EUWA (“List of PRIIPs in the UK‘) to offer, sell or otherwise make available to UK retail investors, and therefore offering, selling or otherwise making available to any UK retail investors may be illegal under UK PRIIPs regulation.
For the purposes of Section 21 of the Financial Services and Markets Act 2000, to the extent such advertisement constitutes an invitation or inducement to engage in investment activity, such communication falls within Section 34 of the Financial Services and Markets Act 2000 (Financial Promotion) Ordinance 2005 (as amended)Financial upgrade order‘), being a non-instant communication sent by and relating only to controlled investments issued, or to be issued, by the county.
Other than with respect to distributions by county, this announcement is intended for distribution only to persons who (i) have professional experience in matters relating to investments that fall under Section 19 (5) of the Financial Promotion Order, (ii) persons within the scope of Section 49 (2) (a) to (d) (“lofty net worth companies, unincorporated associations, etc.”) of the financial promotion order, (3) outside United kingdomor (iv) persons who may be invited or induce to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issuance or sale of any securities which they may be legally informed or cause to be informed (referred to as to all such persons together as “Concerned Persons”). This advertisement is directed only to pertinent persons and should not be acted upon or relied upon by persons who are not related persons. Any investment or investment activity to which the advertisement is related is available only to the pertinent persons and will be dealt with only with the pertinent persons.
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SOURCE COUNTY Buenos Aires