Lawyers comb CAC updates as Argentina wins support for restructuring plan

Argentina, court, law, documents, contract, judge, restructuring, LatAm, 575
By Oliver West
19 Aug 2020

Argentina finally filed its official updated debt restructuring proposal this week and, as expected, drew the support of bondholders. But the bigger news may be in the small print, as sovereign debt experts immediately began to examine the changes implemented to the bonds' collective action clauses (CACs).

The Ad Hoc Bondholder Group, Exchange Bondholder Group and Argentina Creditor Committee all said on Tuesday that they would support the new offer. They had reached an agreement earlier in the month, and the ACC noted on Tuesday that “the improved terms contained in the revised exchange offer are ...

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