Pan American seeks to extend local bond maturity with swap

Pan American seeks to extend local bond maturity with swap

Corporate & Sovereign Strategy Bonds Debt Fixed Income Argentina Oil Gas

Pan American Energy (PAE), the second-largest oil producer in Argentina, said Wednesday that it plans to sell ARS4 billion ($39.6 million) in short-term notes in the local market, a deal that it has designed to also swap an existing bond that matures later this month for the new securities. PAE, a joint venture between British oil and gas company BP and Argentina's Bridas, will offer a minimum of ARS1.5 billion at an auction on Thursday and increase the issue amount based on demand, it said in a

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