TGN Opens Tender

TGN Opens Tender

Argentina Bonds

Argentina’s Transportadora de Gas del Norte (TGN) has launched an exchange offer for any and all of its $141m outstanding in 9.52% 2012 bonds and $204m outstanding in 9.45% 2012 bonds, in exchange for new notes and cash, it says. In the offer, accepting holders would receive, for each $1,000 principal, $494.20 in new step-up notes, $164.68 in new claim protection notes, and $280 in cash. Holders accepting before an August 8 early date receive an additional $49.45 in cash per $1,000. The offer ex

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