Our Proposals

The Exchange Bondholder Group confirms its support of the debt restructuring proposal announced by The Republic of Argentina on August 4, 2020 and set forth in the August 17, 2020, amendment to the prospectus supplement.  We encourage all creditors to join us, the other principal bondholder groups and additional significant bondholders in accepting this offer. Note that if you do not accept the offer, it will have the same effect as a rejection so it will be necessary to take affirmative steps to accept.  Further details regarding this proposal are available here.

July 20, 2020 

Below is the latest joint proposal from The Exchange Bondholder Group, Ad Hoc Argentine Bondholder Group, and Argentina Creditor Committee.

Our June 14, 2020 Joint Proposal

The Argentine Exchange Bondholder Group, acting in conjunction with the Ad Hoc Argentine Bondholder Group, submitted a second joint restructuring proposal to Argentina on Sunday, June 14, 2020. This joint proposal was more favorable for Argentina than our prior joint proposal and demonstrates our commitment to working collaboratively with Argentina to reach a sustainable resolution that would place Argentina on a solid path of economic growth and preserve market access for the Republic.   The proposal is supported by the largest groups of Argentina’s creditors, collectively holding more than 30% of outstanding Exchange Bonds and outstanding Global Bonds. The Argentine Exchange Bondholder Group and the Ad Hoc Argentine Bondholder Group share the common goal of working with Argentina and are confident that the joint proposal addresses the legitimate interests of both the Argentine nation and its international bondholders.  As of this time, the country has, unfortunately, declined to accept the most recent proposal.  Below is the full proposal.​

May 27, 2020 
First Joint Proposal

The Argentine Exchange Bondholder Group, acting in conjunction with the Ad Hoc Argentine Bondholder Group, submitted a joint restructuring proposal to Argentina on Wednesday. The proposal is supported by the largest groups of Argentina’s creditors, collectively holding more than 30% of outstanding Exchange Bonds and outstanding Global Bonds. The Argentine Exchange Bondholder Group and the Ad Hoc Argentine Bondholder Group are confident that the joint proposal provides a sound basis for a collaborative solution that appropriately addresses the legitimate interests of both the Argentine nation and its international bondholders. Below is the full proposal. 

May 15, 2020 
Initial Proposal

The Exchange Bondholder Group’s Proposed Settlement is a comprehensive proposal designed to appropriately address both cash flow and structural elements in a spirit of reasonable compromise from the standpoint of Exchange Bondholders.  The Exchange Bondholder Group proposal includes substantial sacrifices from Exchange Bondholders.  Some, if not many, Exchange Bondholders, especially those who were original participants in the 2005 and 2010 exchanges, may consider the sacrifices at or even beyond the limits of what they believe is a reasonable concession.