Argentina's Autopistas del Sol extends first exchange offer step

By Caroline Salls

Pittsburgh, March 4 - Autopistas del Sol SA has extended the first step of its debt exchange offer to 5 p.m. ET on March 8 from March 3, according to a company news release.

Under the first step of the exchange, all of the company's escalating-interest notes due 2014 and all of its 11½% notes due 2017 will be exchanged for $50 million of notes due 2015, cash and escalating-interest notes due 2020, all at par.

Under the second step of the exchange, all of the notes issued under the first exchange will be exchanged for 10% discount notes due 2017.

Autopistas del Sol is a Buenos Aires-based transportation company.

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