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CITIBANK VICE CHAIRMAN RELEASES STATEMENT ON ARGENTINA DEBT RESTRUCTURING

 CITIBANK VICE CHAIRMAN RELEASES STATEMENT
 ON ARGENTINA DEBT RESTRUCTURING
 NEW YORK, Sept. 23 /PRNewswire/ -- The following communique was issued today by William R. Rhodes, vice chairman of Citibank:
 Argentina and the Bank Advisory Committee have made significant progress toward completing the subscription process in the Argentine debt restructuring package. The members of the Bank Advisory Committee have agreed to commit to exchange a minimum of 35 percent of their debt for discount bonds, with the remainder of their subscriptions to be made up of par bonds. The committee, in cooperation with Argentina, will continue working with its respective constituencies to achieve this balance of par and discount bonds among Argentina's bank creditors.
 -0- 9/23/92
 /CONTACT: John M. Anderson, 202-745-7611, for Citibank/ CO: Citibank ST: New York IN: FIN SU:


CK-OS -- NY026 -- 2535 09/23/92 10:11 EDT
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Publication:PR Newswire
Date:Sep 23, 1992
Words:140
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