The City of Córdoba Announces Decision To Enter into a 30-Day Interest Payment Grace Period to Continue Discussions with Noteholders

CÓRDOBA, Argentina, Sept. 29, 2020 /PRNewswire/ -- The city of Córdoba ("Córdoba" or the "City") announced today that it has elected to enter into a 30-day interest payment grace period and defer making the next scheduled interest payment on its outstanding U.S.$150,000,000 principal amount of 7.875% Senior Notes due 2024 (the "Notes"), which is due on September 29, 2020.

Under the terms of the indenture governing the Notes, the City has a 30-day grace period after the interest payment due date.  The City has made this decision while it continues to engage in good faith discussions with its noteholders for the restructuring of the City's external debt.

On September 11, 2020, the City announced that it had contacted certain holders of the Notes to sign non-disclosure agreements in contemplation of engaging in negotiations regarding the reprofiling of the Notes and has been engaged in such negotiations.

This announcement is for informational purposes only and is not an invitation to or a solicitation of consents from any Holders. Any questions should be directed to the City at the contact information set forth below. The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws.

The City of Córdoba
Marcelo T. de Alvear 120
X5000KGQ – Córdoba, Argentina
Attention:  Diego Miguel Bono (Dirección General de Finanzas)
Email: [email protected]
Tel: +54 351 285-600 Ext. 1206

SOURCE The City of Cordoba