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Published on 4/22/2004 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Hidroeléctrica Piedra del Aguila extends APE solicitation

New York, April 22 - Hidroeléctrica Piedra del Aguila SA said it has extended its tender offer and solicitation for consents to an acuerdo preventivo extrajudicial (APE) for its existing debt to 5 p.m. ET on April 30 from 5 p.m. ET on April 21.

As of the previous deadline, holders had tendered $161.6 million of the existing bonds. The company added that it is finalizing details with holders of a significant amount of the old debt about tendering their securities.

Covered by the offer are Hidroeléctrica Piedra del Aguila's 8% series I debt due 2009, 8¼% series II debt due 2009, 8% series III debt due 2009 and 8¼% series IV debt due 2009. In each series, the exchange covers both negotiable obligations and fiduciary titles.

D.F. King & Co. is information agent for the offer (212 269-5550) or contact the company at (54 11 4311-3470).


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