Clifford Chance advised Ad Hoc Argentine Bondholder Group with a team including Hugo Triaca (Debt Capital Markets).
The Group, composed of institutional money managers managing or advising funds and other noteholders, held approximately 45% of the 2021 Notes and additional debt securities that were subject to the YPF exchange offers. The Group’s agreement in principle with YPF with respect to the exchange offer relating to the 2021 Notes led to YPF’s fourth amendment to its exchange offer documentation and a successful restructuring of the 2021 Notes prior to the March 2021 maturity date.
YPF is expected to use money freed up by its debt restructuring to boost production in the shale oil and gas region known as Vaca Muerta in the Province of Neuquén, Argentina.
The Clifford Chance team was led by Capital Markets partners Deborah Zandstra (Picture) in London, and Jon Zonis and Hugo Triaca in New York.
Law Firms: Clifford Chance;
Clients: Ad Hoc Argentine Bondholder Group;