March 30, 2021 |
Tecpetrol, the third-largest natural gas producer in Argentina, said it took out a 3.5-year, $286 million loan from the Nassau branch of Brazilian lender Itaú Unibanco, allowing it to get up to date on missed payments on loans from its parent company.
The new loan pays 5.75% interest and matures on September 26, 2024, the company said in a securities filing.
Tecpetrol, part of the Argentine-Italian industrial conglomerate Grupo Techint, borrowed money from its Uruguay-based parent Tecpetrol Inte
Argentine natural gas producer borrows $286 mln from Itaú to refinance debts