August 21, 2014 / 8:11 PM / in 3 years

Argentina bondholders working with Deutsche Bank on RUFO waiver

NEW YORK, Aug 21 (IFR) - A group of Argentina’s exchange bondholders is working with Deutsche Bank to remove the so-called RUFO clause that prevents the sovereign from offering holdout creditors better terms than those who took part in its 2005 and 2010 restructurings.

Christopher Clark, a partner at law firm Latham & Watkins, which is advising holders of over EUR5.2bn of Argentine debt, told IFR on Thursday that a consent solicitation on the clause is in the works.

“We are moving forward and we are working with Deutsche Bank to progress as rapidly as possible to a solicitation,” Clark said. (Reporting by Davide Scigliuzzo)

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