Argentina’s CePu Said to Hire Banks for $500 Million Bond Sale
2016-09-15 21:14:52.337 GMT
By Pablo Gonzalez
(Bloomberg) --
Argentina’s largest privately owned power
generator, Central Puerto SA, is planning a
$500 million bond
sale, hiring JPMorgan Chase & Co., Bank of America Corp. and
Deutsche Bank AG for the deal, according to two people with
knowledge of the plan.
Proceeds from the seven- to 10-year bond offering, expected
by early October, will be used to back two generation projects,
said the people, asking not to be identified as the deal is
private.
Representatives from Central Puerto, JPMorgan, Bank of
America and Deutsche Bank declined to comment.
Central Puerto plans to invest about $180 million to
install a wind farm in Patagones, the southernmost county of
Argentina’s Buenos Aires province, and has submitted a bid at a
government renewable auction, according to the people.
The
company is also seeking government permission to install an air-
cooled gas turbine it acquired from General Electric Co., the
people said.
T
he Buenos Aires-based company operates about 15 percent or
5.5 gigawatts of power generation capacity in Argentina, the
third-largest market in Latin America behind Brazil and Mexico.
To contact the reporter on this story:
Pablo Gonzalez in Buenos Aires at
pgonzalez49@bloomberg.net
