Details Emerge on New TGN Debt (1)

Details Emerge on New TGN Debt (1)

Argentina Bonds Corporate & Sovereign Strategy

Argentina's Transportadora de Gas del Norte (TGN) has disclosed the details of the new debt included in an exchange offer launched last week. The gas company plans to issue as much as $170m in new 2019 bullet step-up notes, paying 3.5% through the first 2 years, 7.0% through the second 2 years and 9.0% during the remainder, according to a company official. Up to $174m in claim protection notes pay no coupon and are due after one year, unless there is a credit event. TGN said last week it would e

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