Pan American doubles debt deal on heavy orders

Pan American doubles debt deal on heavy orders

Bonds Debt Capital Markets Fixed Income Energy Argentina

Pan American Energy, the second-biggest oil producer in Argentina, said on Monday that it raised $69.2 million from an oversubscribed sale of two bonds, tapping investor demand for securities seen safer than government issues. The company, 50% owned by BP, sold $25 million in 18-month bonds, more than double the $10 million minimum it had offered. The company said it received 296 orders totaling $439 million for the bonds, more than 17 times the maximum on offer, according to a securities filing

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