TGN Hits 60% in Restructure

TGN Hits 60% in Restructure

Corporate & Sovereign Strategy

Debt holders of Argentina’s Transportadora de Gas del Norte accepting the company’s restructuring proposal have reached 59.18% participation, TGN says. TGN has reached support agreements with 6 institutional lenders representing 48.68% of the company's outstanding bonds, in addition to an automated tender offer representing another 10.50%. The gas distributor launched September 8 an improved offer to restructure $347m in debt, after a previous offer brought only 12% support. It is offering new 2

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