CGC seeks long-term loan

CGC seeks long-term loan

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Argentine oil and natural gas producer Compañía General de Combustibles (CGC) said it is negotiating a long-term credit line for $150 million from Eurobanco Bank, after landing a shorter line for $100 million. The company arranged a six-month credit line for $100 million at Libor plus 9%, for which it will use the proceeds for investments and working capital, according to a securities filing. The second credit line with the Nassau, The Bahamas-based bank would go toward financing the same purpos

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