Argentina's Central Termica Guemes sets offer period for floaters

By Marisa Wong

Madison, Wis., Feb. 28 - Central Termica Guemes SA said that the subscription period for its planned ARS 20 million of class 1 floating-rate notes and ARS 20 million of class 2 floating-rate notes began at 8 a.m. ET on Feb. 28 and will end at 1 p.m. ET on March 2.

As previously announced, the notes will be issued at par within five business days of the last day of the offer period.

The class 1 notes will have a maturity of 12 months, and the class 2 notes will have a maturity of 18 months.

The notes will be issued under the company's $50 million bond program. Under the program, the company may issue up to ARS 125 million of the class 1 and class 2 notes combined.

The program was approved by shareholders in October, and the notes were approved by the company's board of directors on Feb. 6.

BACS Banco de Credito y Securitizacion SA, Banco Hipotecario SA, Citicorp Capital Markets SA, Standard Bank Argentina SA and Raymond James Argentina Sociedad de Bolsa SA are the underwriters.

The power plant operator is based in General Guemes, Argentina.

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