Argentina’s MetroGas Plans Dollar-Denominated Debt Swap

MetroGas SA (METR), the Argentine gas distributor that’s operating under bankruptcy protection, announced a plan to swap 53.2 percent of its existing debt with new bonds, according to a statement filed today to the Buenos Aires stock exchange.

The dollar-denominated bonds will mature in 2018 and have an 8.9 percent interest rate, according to the filing. The notes will be offered in two series, the document said.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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