The exchange process occurs in a context of expansion and growth of operations, with investments close to US$600 million, for three energy projects.
The Albanesi Group reports that it closed a successful issue for US$350 million in the international market, of which US$210 million correspond to the exchange of existing bonds, and US$140 million to new funds, which represents strong support from their investors.
“This operation is a key step to achieve the objective of having a more orderly and vigorous financial horizon. At the same time, we extend the terms of financial obligations and obtain fresh funds for the cancellation of other commitments,” explained Guillermo Brun, financial director of the Argentine private equity group, founded in 1912.
The exchange process occurs in a context of expansion and growth of operations, with investments close to US$600 million, through three projects:
- the expansion and closure work of the combined cycle of the Ezeiza Thermal Power Plantwhich ended in April and has operated at full capacity since then.
- the launch of the Arroyo Seco Cogeneration Plantin the province of Santa Fe, which entered the operational phase in the month of October.
- conversion from open cycle to combined cycle Modesto Maranzana Thermal Power Plantthe largest that Albanesi owns in the country, located in the city of Río Cuarto, province of Córdoba, whose eighth gas turbine was incorporated in June, and which will soon be enabled with the closed cycle.
“We are honored to know that we have the support of market agents, who have once again placed their trust in our company. We have achieved a notable result through this operation, which occurs within a framework of launching projects that make up an investment plan for US$600 million. None of this would have been possible without the support of our investors,” he highlighted. Armando Losón (h)president of the Group.
Grupo Albanesi is the main marketer of natural gas in Argentina. Its main activities are the generation of electrical energy and the provision of natural gas. By the end of the year it will approach 2,000 MW of installed capacity through its 10 plants equipped with the latest generation technology.
Source: Ambito
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