Argentina's TGN extends its restructuring exchange offer to July 3

By Caroline Salls

Pittsburgh, June 4 - Transportadora de Gas del Norte SA's board of directors has extended the exchange offer in connection with the proposed restructuring of $347.30 million of its debt to 5 p.m. ET on July 3 from June 5, according to a company news release.

As of 24 hours before the previous expiration date, the company said it had received acceptances from holders of 13% of its debt and it was in negotiations with a committee representing holders of 55% of the debt about the final terms of the restructuring.

TGN is a Buenos Aires-based natural gas company.

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