Pan American to buy back bonds with cash

Pan American to buy back bonds with cash

Corporate & Sovereign Strategy Bonds Debt Fixed Income Gas Oil Capital Markets Energy Latin America South America Argentina

Pan American Energy (PAE), the second-biggest oil producer in Argentina, said Monday that it has launched an offer to buy back all of its 7.875% international bonds due May 7 with cash. Bondholders have until April 22 to accept the offer, the company said in a securities filing, adding that any bonds not repurchased will be paid at maturity. The company, a joint venture between BP and Argentina's Bridas, added that it will use "cash on hand" for the buyback with Citi, HSBC, Itaú, JP Morgan and S

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