TGN Extends Early Exchange Deadline

TGN Extends Early Exchange Deadline

Argentina Bonds

Argentina’s Transportadora de Gas del Norte (TGN) has extended the early tender period of its debt exchange offer, it says, to August 1 from July 25. In the offer, TGN is seeking to exchange any and all of its $141m outstanding in 9.52% 2012 bonds and $204m outstanding in 9.45% 2012 bonds for new bonds and cash. Accepting holders receive, for each $1,000 principal, $494.20 in new 2019 step-up notes, $164.68 in new claim protection notes, and $280 in cash. TGN plans to issue as much as $170m in n

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