Argentina's Mastellone Hermanos receives consents to exchange $218 million of existing debt

By Caroline Salls

Pittsburgh, March 26 - Mastellone Hermanos SA received debt refinancing exchange offer consents from holders of $218 million of its existing debt, or 98% of the total interest and principal, as of the 5 p.m. ET March 26 offer deadline, according to a company news release.

The closing and cash exchange is subject to obtaining final regulatory approvals in Argentina.

As previously reported, the company will exchange its variable-rate debt due 2011, notes due 2012 and fixed-rate debt due 2013 for a combination of cash and new debt.

Mastellone Hermanos is a Buenos Aires food company.

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