BUENOS AIRES, Argentina, Sept. 4 Pampa-Energia-bond
BUENOS AIRES, Argentina, Sept. 4 /PRNewswire-FirstCall/ -- Pampa Energia,
through its subsidiary Central Termica Loma de la Lata, successfully closed a
bond issuance for an amount of 178 million dollars destined to finance the
capacity expansion of Central Termica Loma de la Lata, located in the province
of Neuquen.
The maturity date of the bond is the year 2015, and it bears an interest
rate of 11.25%. It shall be payable in six-month payments with a five-year
grace period for the capital amortization. The purchase price was 93.3402%,
which implies a yield to maturity of 12.95%.
Upon disclosing the information, Marcelo Mindlin, president of the
Company, stated: "This operation proves, once again, market confidence in
Pampa Energia, and that when serious, attractive projects are offered, the
necessary financing is obtained. Also, we want to emphasize the role of
government agencies such as the CNV (Securities and Exchange Commission) and
the BCBA (Bolsa de Comercio de Buenos Aires) approving the proposals with both
efficiency and professionalism."
Regarding the successful result of the operation, Mindlin pointed out: "I
believe we have to emphasize that this is the first operation since the
creation of the Pension Fund system, in which 100% of a productive investment
in the country is financed by means of long-term savings from Argentine
people. I believe this allows us to be optimistic as to the results that may
be achieved between Argentine businessmen and pension funds in the future. We
are very thankful for the effort made to understand the project, add
constructive comments and, finally, provide the project with support."
The capacity expansion project consists of the conversion of Central
Termica Loma de la Lata into a combined cycle, by means of the provision and
installation of a steam turbine and a recovery boiler which will enable it to
increase its current capacity of 370 MW by 180 MW.
The project, in addition to the inauguration of the new turbine at Central
Guemes located in Salta and the building of central Ingentis in Chubut,
comprises an investment plan of more than 1,400 million pesos that Pampa
Energia has in place to increase, in two years time, its electricity installed
capacity by 500 MW, within the Energia Plus Plan.
ABN AMRO Bank N.V., Argentine Branch and Standard Bank Argentina S.A.
acted as Arrangers, Placement Agents in Argentina and Bookrunners of the
issuance.
(*Pampa Holding S.A's name change to Pampa Energia S.A. is pending
registration).
SOURCE Pampa Energia S.A.
