DESA starts restructuring process

DESA starts restructuring process

Bonds Debt Corporate & Sovereign Strategy Loans Funds Fixed Income Electricity Argentina Latin America

Argentine energy investor Desarolladora Energética (DESA) said Thursday that it has started the process to refinance $624 million in debt, split between a syndicated loan and bonds due in 2023. The owner of six power distribution companies said it signed an agreement with its controlling shareholders — London-based Tesnik and Montevideo-based Cuxery – and its financial creditors. The company did not provide details on how it plans to restructure the debt. DESA and subsidiary Empresa Inversora En

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