Argentina’s CGC exchanges $8.18 million of notes as of final deadline

Chicago, Oct. 29 – Compania General de Combustibles SA announced that as of the final deadline noteholders tendered for exchange a total of $8,179,000 in principal amount of its 9˝% notes due Nov. 7, 2021 (Cusips: 20448QAA8, P3063DAA0) for 9˝% senior amortizing notes due 2025, based on a press release.

CGC will accept all of the notes tendered for exchange.

The company was offering to exchange up to $40 million principal amount of notes.

As previously reported, the company is offering to exchange $1,000 of existing notes for a like amount of notes due 2025 with the same coupon.

The offer expired at 11:59 p.m. ET on Oct. 28, after a two-week extension from Oct. 14.

At the early deadline, noteholders had tendered $8,016,000 of the notes and early settlement occurred on Oct. 4.

Therefore, on the Nov. 2 settlement date CGC will issue $163,000 of new notes and pay $5,204.68 in interest.

Global Bondholder Services Corp. (212 430-3774, 866 470-3800, https://gbsc-usa.com/eligibility/cgc) is the exchange and information agent.

The Buenos Aires-based company is engaged in gas distribution and hydrocarbons exploration and production.

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