October 7, 2020 |
AES Argentina plans to restructure a $22.2 million US dollar-denominated bond due in November, as tight capital controls make it hard for the power generation company to pay on time, the company's chief executive officer said on Tuesday.
However, the company is also carefully watching for when it can eventually raise cheaper financing for new projects on the international market, CEO Martín Genesio added.
The company, a unit of US-based AES Corp., sold the bond as part of a series of three bonds
Power generation company says capital controls will make it hard to pay, but it is still betting on the country's long-term potential