Tecpetrol delays loan payment on capital controls

Tecpetrol delays loan payment on capital controls

Debt Loans Gas Argentina Uruguay Latin America

Tecpetrol, the fourth largest natural gas producer in Argentina, said it has delayed a $325 million loan payment to its Uruguay-based parent company after the central bank declined its request to buy dollars, the latest company to suffer from tight capital controls in the crisis-hit country. Buenos Aires-based Tecpetrol, part of the Argentine-Italian industrial conglomerate Grupo Techint, was due to transfer the money to Tecpetrol International, a holding company based in Montevideo, on August 8

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