Tecpetrol delays loan payment again

Tecpetrol delays loan payment again

Debt Corporate & Sovereign Strategy Economy & Policy Loans Bonds Gas Argentina Uruguay Latin America

Tecpetrol, the third-largest natural gas producer in Argentina, said Thursday that it has delayed a $325 million loan payment to its Uruguay-based parent company for a second time as access to dollars has tightened in the country. "Both parties have agreed to extend the grace period for 60 days," Tecpetrol said in a securities filing. Tecpetrol, part of the Argentine-Italian industrial conglomerate Grupo Techint, borrowed the money from Tecpetrol International, a holding company based in Montevi

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