Peterpan escribió:Buenas a todos! una pregunta, alguno tiene el texto de las cláusulas Rufo (rights upon futures offers) de los bonos que entraron al canje, en concreto me gustaría verificar que el cumplimiento de una sentencia judicial se encuentre excluído de cualquier reclamo.
Saludos y éxitos a todos!
Febo asoma.
Prospecto de Canje escribió:Rights Upon Future OÅers
Under the terms of the Pars, Discount and Quasi-pars, if following the expiration of the OÅer until December 31, 2014, and except as provided below, Argentina voluntarily makes an oÅer to purchase or exchange or solicits consents to amend any Eligible Securities not tendered or accepted pursuant to the OÅer, Argentina has agreed that it will take all steps necessary, including making any required Ñlings, so that each holder of Pars, Discounts or Quasi-pars will have the right, for a period of at least 30 days following the announcement of such oÅer, to exchange any of such holder's Pars, Discounts or Quasi-pars for (as applicable):
- the consideration in cash or in kind received in connection with such purchase or exchange oÅer, as the
case may be, or
- securities having terms substantially the same as those resulting from such amendment process,
in each case in accordance with the terms and conditions of such exchange oÅer or amendment process. For this purpose, such Pars, Discounts or Quasi-pars will be treated as though they were Eligible Securities that:
- are in the same currency as such Pars, Discounts or Quasi-pars, and
- have an Eligible Amount equal to the Eligible Amount of the Eligible Securities that would have been originally exchanged for such Pars, Discounts or Quasi-pars pursuant to the OÅer (determined by applying the inverse of the relevant exchange ratio applied in the OÅer).
In order to participate in any such purchase, exchange or amendment process, holder of Pars, Discounts or Quasi-pars will be required to surrender GDP-linked Securities in a notional amount equal to the Eligible Amount of Eligible Securities tendered in exchange for such Pars, Discounts and/or Quasi-pars, or, but only if an active trading market and published secondary market price quotations exist for GDP-linked Securities, pay cash to Argentina in an amount equal to the market price of that amount of GDP-linked Securities calculated on the market observation date that is at least six months prior to the announcement of such future transaction. The ""market observation date'' for this purpose is any March 31 or September 30, on which dates the trustee will calculate the market price of the GDP-linked Securities.
The notional amount of GDP-linked Securities that must be surrendered with respect to Pars, Discounts or Quasi-pars may be determined by applying the inverse of the exchange ratio corresponding to such Pars, Discounts or Quasi-pars that was applied in the OÅer. For instance, a holder of U.S.$1,000 in principal amount of Discounts would have to surrender GDP-linked Securities in a notional amount equal to approximately U.S.$2,967. This amount of GDP-linked Securities is determined by applying the inverse of the applicable exchange ratio used in determining the principal amount of Discounts tendering holders were entitled to receive in exchange for their Eligible Securities: (1/0.337) £ (U.S.$1,000) • U.S.$2,967. For a full listing of applicable exchange ratios see ""Terms of the OÅer Ì Consideration to be Received Pursuant to
Tenders (except for Par Brady Bonds and Discount Brady Bonds)''.
This ""Rights upon Future OÅers'' covenant constitutes a ""reserve matter'' under the terms of the New Securities, and any modiÑcation, amendment, supplement or waiver to this covenant is a ""reserve matter modiÑcation'' under the terms of the New Securities issued pursuant to the trust indenture. See ""Description of the Securities Ì Description of Debt Securities'' in the accompanying prospectus for more details on this modiÑcation process.
The right of holders of Eligible Securities to participate in future exchange oÅers and/or amendment processes as described above will not apply to any exchange oÅer conducted pursuant to Decree No. 1,375, relating to certain exchange oÅers of Eligible Securities held by Argentine pension funds.
