Tecpetrol gets loan for bond buyback

Tecpetrol gets loan for bond buyback

Corporate & Sovereign Strategy Bonds Loans Argentina Capital Markets Gas Oil Economy & Policy

Tecpetrol, the third largest natural gas producer in Argentina, said Monday it took out a $300 million loan from Itaú Unibanco and Santander to finance part of the bond buyback, helping to ease worries about making the payment on time as tight controls prevent companies from buying dollars. The six-year loan pays an annual interest rate based on the three-month secured overnight financing rate plus 2.15%, according to a securities filing. Tecpetrol said it will use the funds to help buy back $50

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