PAE Readies Bond Comeback

PAE Readies Bond Comeback

Argentina

Pan American Energy says it is preparing a new 2021 bond for up to $500m. The Ba2/BB minus transaction through the Pan American Energy Sucursal Argentina unit is from a $1.2bn shelf, and will fund 2010 capex. The Argentine company plans to invest $1.17bn this year in its Cerro Dragon project in Chubut province, up from $1.05bn in 2009. Of the total, $771m will go to exploration and production activities, and the remainder to enhance operations. A new bond would be the first since 2006, with PAE

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