YPF obtains support from Ad-Hoc Group for $6.2 billion debt swap

State-owned oil company YPF announced a new amendment to its offer to restructure $6.2 billion in bonds. YPF received a proposal from the Ad-Hoc YPF Bondholder Group, which holds approximately 45% of the 2021 bond, requesting a final amendment to the exchange conditions of the bond to commit its participation in the transaction. Sources close to the negotiation indicated that the Ad-Hoc Group's proposal was presented to the company's board of directors, who resolved to approve the requested modifications.

Central Bank enables exporting companies to issue debt in dollars

The Argentine central bank authorised exporting companies to operate in the foreign exchange market for the cancellation abroad of principal and interest services of debt securities issues registered abroad. Communication "A" 7218 allows the issuance of foreign currency debt in the international market to be subscribed by investors from other countries and to bring the dollars into the country.

Retail sales fell 5.8% year-on-year in January

The retail sales index fell by 5.8% year-on-year in January, according to a survey by the Argentinean Confederation of Medium-sized Businesses (CAME), analysing that at the beginning of the year families spent a large part of their money on holidays and debt repayments, affecting the consumption of goods.