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Oaktree, BlackRock Are Among YPF Creditors Organizing

  • White & Case is advising one of the groups, people say
  • Argentine energy firm surprised investors by seeking exchange

Photographer: Ronaldo Schemidt/AFP/Getty Images

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Investment firms including Oaktree Capital Management and BlackRock Inc. are organizing into two groups to negotiate with YPF SA after the Argentine oil producer proposed a debt swap that would saddle them with losses, according to people familiar with the matter.

BlackRock is among a consortium of experienced emerging-market investors such as Ashmore Group Plc and Invesco Ltd. that have tapped law firm White & Case LLP to advise on the talks, said the people, who asked not to be identified because the information is private. Representatives for the firms declined to comment.