DESA wraps up restructuring

DESA wraps up restructuring

Corporate & Sovereign Strategy Bonds Debt Loans Energy Electricity Latin America South America Argentina

Argentine energy investor Desarrolladora Energética (DESA) said it has completed the restructuring of $624 million in debt, a move that has reduced its debt by increasing the equity in the company of a main shareholder. The owner of six power distribution companies said London-based Tesnik, its controlling shareholder, has boosted its stake to 95% from 85.58% through the "capitalization of credits," according to a securities filing late on Monday. DESA had reached a preliminary agreement for the

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