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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

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FORM 6-K

 

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REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15b-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March, 2004

 

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Irsa Inversiones y Representaciones Sociedad Anónima

(Exact name of Registrant as specified in its charter)

 

Irsa Investments and Representations Inc.

(Translation of registrant´s name into English)

 

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Republic of Argentina

(Jurisdiction of incorporation or organization)

 

Bolívar 108

(C1066AAB)

Buenos Aires, Argentina

(Address of principal executive offices)

 

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Form 20-F      *        Form 40-F          

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes              No      *    

 

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IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD ANÓNIMA

(THE “COMPANY”)

 

REPORT ON FORM 6-K

 

Attached is an English translation of the summary of the letter dated March 18, 2004 filed by the Company with the Bolsa de Comercio de Buenos Aires and the Comisión Nacional de Valores.

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By letter dated March 18, 2004, the Company reported that on March 17, 2004 the Company cancelled with the HSBC Bank plc. London US$ 12,000,000 of the Loan Agreement for US$ 51.0 millions with final due date in November 2009.

 

The transaction was performed in accordance to the procedure established in the Syndicated Loan Agreement, and it was made for the sum of US$ 8.6 millions, a 72% of the face value, getting a discount of US$ 3.4 millions.

 

A substantial part of the funds applied to the transaction come from the earnings obtained pursuant to the warrants exercised at December 31, 2003, confirming the successful strategy adopted for the restructure of the Company’s debt.

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SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.

 

 

Dated: March 18, 2004