Argentina's Fargo announces exchange rate for existing 13¼% senior notes

By Caroline Salls

Pittsburgh, Feb. 12 - Compania de Alimentos Fargo SA said existing holders of its 13¼% senior notes due Aug. 1, 2008 will receive $1.12393856775 principal amount of new series B tranche 2 bonds due 2041 on Feb. 13 for each $1 principal amount of existing notes in connection with the company's Acuerdo Preventivo Extrajudicial, according to a news release.

Following the exchange, Fargo said there will be $24.17 million of the new series B bonds outstanding.

Fargo is a Buenos Aires-based producer and distributor of packaged bread and bakery products in Argentina. Its Chapter 11 case was dismissed by the U.S. Bankruptcy Court for the Southern District of New York on Oct. 12, 2007.

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