Argentina’s IRSA schedules meeting of 7 7/8% noteholders for March 23

By Marisa Wong

Morgantown, W.Va., March 10 – Inversiones y Representaciones SA (IRSA) has decided to call a noteholders’ meeting for its 7 7/8% notes due 2017, series No. 1. The meeting will be held initially on March 23 and, if a second meeting is necessary, on April 7, according to a 6-K filed Thursday with the Securities and Exchange Commission.

Noteholders will vote on a resolution to amend the indenture governing the notes.

As previously reported, the company began tender offers and consent solicitations on March 4 for three series of notes, including the 7 7/8% notes.

IRSA is soliciting consents from holders of the 7 7/8% notes to amendments that would eliminate substantially all of the restrictive covenants and modify or eliminate some events of default and other provisions in the indenture.

The company is also soliciting consents to amend its 11˝% notes due 2020, series No. 2, and 8˝% notes due 2017, series No. 1.

IRSA is a real estate company based in Buenos Aires.

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