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Argentina’s MetroGas Plans Dollar-Denominated Debt Swap

MetroGas SA, 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.

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