Argentine Government unilaterally postponed the payment of local "dual bond" due 2020 

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The Argentine Government unilaterally postponed the payment of local “dual bond” due 2020

On February 12th, 2020, the Official Gazette published Urgency and Necessity Decree No. 141/2020, which unilaterally postponed the payment of the principal due under the “Bonos de la Nación Argentina en Moneda Dual Vencimiento 2020” until September 30th, 2020 and interrupted the accrual of interest.

The postponement does not include interest already accrued, which shall be paid in accordance with the original terms and conditions.

Further, the measure does not reach those bonds up to US$ 20,000 of face value held, directly or indirectly, by individuals as of December 20th, 2020, who maintain the bonds under their ownership at the payment date.

The Government stated that the payment of the bond under the original conditions would have put into jeopardy the macroeconomics foundations of the debt normalization process that the Republic is trying to achieve.

Should you need any further information, please do not hesitate to contact Tomás M. Araya