Foreign Private Debt Refinancing Conditions Relaxed

Through Communique “A” 7230, dated February 25, 2021, the Argentine Central Bank (BCRA, after its acronym in Spanish) extended the provisions of Section 7 of Communication “A” 7106, stipulating the conditions for refinancing the principal of foreign indebtedness due between the abovementioned dates.

The refinancing plan is not required when the amount per calendar month for which the debtor is accessing the foreign exchange market for the cancellation of indebtedness is equivalent to US$ 2,000,000 (two million dollars).

In addition, the refinancing plan is also not required when the maturities represent:

• indebtedness originated as of January 1, 2020 and whose funds have been transferred and sold in the foreign exchange market;

• indebtedness originated as of January 1, 2020 and that constitute refinancing of capital maturities after that date; and

• the remaining portion of maturities already refinanced.