Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Pampa Energia SA > News item |
Argentina’s Pampa Energia shareholders approve notes issuance requests
By Caroline Salls
Pittsburgh, April 12 – Pampa Energia SA’s shareholders voted to extend the company’s notes program by up to $1 billion and to approve the issuance of up to $500 million notes convertible into ordinary shares, according to a news release.
The approvals were received at meetings held on April 7.
The extension of the program brings the total amount of notes to $2 billion. Also, the extension resolution amends the terms of the program to allow the notes to be convertible into shares or not convertible.
A total of 99.62% of the voting shareholders approved both resolutions.
The up to $500 million of convertible notes will be issued in one or more classes and/or series and will occur only to the extent that the value of contribution of Pampa Energia’s American Depositary Shares reach at least $60 per share at the time of issuance.
The value of the conversion of the notes will be determined by the company’s board of directors, but may not be less than the ADS share contribution at the time of issuance plus a 30% conversion premium.
In connection with the approval of the issuance of convertible notes, the shareholders approved a capital increase and the corresponding authorization of issuance of shares.
Pampa Energia is based in Buenos Aires and is the largest electricity company in Argentina.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.