Edesa sets out bond swap

Edesa sets out bond swap

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Argentina Latin America

Empresa Distribuidora de Electricidad de Salta (Edesa), an electricity distribution company in northwestern Argentina, said its board approved a proposal to swap the remaining $33.8 million in 11.5% 2021 bonds for new notes that mature in 2023 and pay higher interest rates. The company, which sold $65 million worth of the bonds in 2016, said it will make quarterly payments on the new notes starting at 5% of the principal in June 2021 and stepping up to 7% in March 2023 before the remaining 53% i

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