By Caroline Salls
Pittsburgh, May 5 - Empresa Distribuidora y Comercializadora Norte SA (Edenor) will issue Ps. 75.7 million of variable-rate notes due 2013 on Thursday at par, according to a company news release.
Interest will accrue at the private Badlar rate plus 675 basis points.
As previously reported, the company took orders for up to Ps. 150 million of the notes in late April as part of its $600 million medium-term notes program.
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.
| Issuer: | Empresa Distribuidora y Comercializadora Norte SA
|
| Issue: | Variable-rate notes
|
| Amount: | Ps. 75.7 million
|
| Maturity: | 2013
|
| Managers: | Banco Comafi SA and Macro Securities SA
|
| Coupon: | Private Badlar rate plus 675 bps
|
| Price: | Par
|
| Pricing date: | May 5
|
| Settlement date: | May 7
|
| Ratings: | Moody's: A1.ar/B2
|
| Standard & Poor's: raA
|
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