Argentina's Edenor to launch subscription period for Ps. 150 million floaters April 23

By Caroline Salls

Pittsburgh, April 22 - Empresa Distribuidora y Comercializadora Norte SA (Edenor) said the subscription period for its offering of Ps. 150 million of floating-rate notes due 2013 will begin April 23 and run through April 29, according to a subscription advisory.

As previously reported, the notes will be sold at par under the company's $600 million medium-term note program.

The minimum subscription amount will be $1,000, and the notes will be sold in increments of $1 thereafter.

Interest will accrue at the Private Badlar rate plus a margin, which will be set at pricing.

Principal will be repaid in quarterly installments.

Banco Comafi SA and Macro Securities SA will manage the sale.

Proceeds will be used to finance the company's investment plan.

The notes have been rated raA by Standard & Poor's, and Moody's has assigned a rating of A1.ar on the national scale and B2 on the global scale.

Edenor is an electricity distribution company based in Buenos Aires.

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