Pan American to issue new notes in bond swap

Pan American to issue new notes in bond swap

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Argentina Energy Oil

Pan American Energy (PAE), the second-largest oil producer in Argentina, said Wednesday that it plans to issue new 7.25% 2025 bonds in exchange for notes that mature in November next year. The company has offered swap as much as $120 million in 5% 2023 bonds for an equal amount in new notes until the deadline on July 15, it said in a press release. It added that it expects to distribute the 2025 bonds to investors on July 21. Itaú BBA and Santander are the dealer managers on the bond swap, while

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