Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 24

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 10
Chunk 24
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 MEP or CCL / acquiring certain dollar-settled securities) and require the signing of a sworn statement to that effect. Consequently, while the A8226 conditions remain the baseline for individual access to the MULC, market access is now in practice subject to the 90-day restriction when applicable.

External Financial Indebtedness

Debt securities publicly registered abroad, other external financial indebtedness, and foreign currency-denominated debt securities publicly registered in Argentina fully subscribed abroad (“External Financial Indebtedness”), disbursed as from September 1, 2019, must be entered into Argentina and settled in the MULC as a requirement for subsequent access to it in order to service their capital and interest payments. Consequently, although the settlement of the proceeds from such transactions is not mandatory, failing to settle it will prevent future access to the MULC for reimbursement purposes.

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Additionally, as further conditions for such access to the MULC, the transaction must have been declared in the External Assets and Liabilities Survey, and access to the MULC must occur no more than 3 (three) business days prior to the due date of the capital or interest service to be paid.

In the case of a capital payment of debt securities issued as from November 8, 2024 through a transfer abroad, access to the MULC must occur according to the following minimum terms from their issuance date:

 (i)                          For debt securities issued between November 8, 2024 and April 20, 2025: at least 12 months.                       
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(ii)    For debt securities issued from April 21, 2025 to May 15, 2025: at least 180 calendar days.                                             
(iii)   For debt securities issued from May 16, 2025 onwards: at least 18 months, in accordance with Communication “A” 8244 of the Central Bank.

For foreign currency-denominated debt securities issued by local financial institutions as from May 26, 2025: at least 12 months, pursuant to Communication “A” 8245.

Access to the MULC to make payments more than three (3) days in advance of the due date is, as a general rule, subject to prior authorization from the Central Bank. The following cases of early repayment may be exempt from such prior authorization, provided they meet several requirements outlined in Section 3.5 of the Foreign Exchange Regulations: (i) early repayment of principal and interest with the