July 14, 2017 |
Pampa Energia has advanced plans on a convertible bond sale, picking Bank of America Merrill Lynch, Citi and JPMorgan to lead the potential debt-to-equity trade.
The Argentine energy company will issue the securities with a fixed coupon, but then convert it to shares, sources have said.
Pampa has filed initial documentation ahead of a deal. The company’s ADSs were spotted at $64.95 on June 19, but dipped to as low as $54.33 during yesterday’s trading.
Last month, Pampa held off issuing a pote
Argentine energy company is expected to launch the debt-to-equity security in the coming months, sources say