October 30, 2020 |
Vista Oil & Gas, the fourth-largest oil producer in Argentina, plans to refinance part of a $45 million loan payment due in January, as capital controls prevent it from making the payment on time, CEO Miguel Galuccio said on Thursday.
"We have already started negotiations with the banks," he said in a conference call to present the company's third quarter results.
Of the loan payment, Vista will pay 40% in cash and refinance the remaining 60%, Galuccio said, without naming the banks.
Argentina’s capital controls lead the oil and gas company to roll over 60% of a $45 mln payment