On May 11, the Ministry of Economy announced that it had extended the debt restructuring offer until May 22. In its press release, it said that it had extended the deadline for the debt swap auction for eligible bondholders listed in the Prospectus Supplement dated April 21, 2020.

These bondholders will be able to present orders to exchange bonds for new ones from May 8 to 22.

If this period is not further extended, the date when results will be announced will be May 25. The execution date, the effective date and the settlement date will be May 27.

In other news, as from today, financial entities making loans to Small and Medium Enterprises must use a 24% subsidized rate, as established by the Central Bank through communication A7006. The loan will have a fixed rate with a three-month grace period and to be eligible, companies must have a MiPyME certificate. Banks will also be obliged to grant financing if the guarantee provided by the Argentine Guarantee Fund (FoGAr) is submitted.