TGS Launches $424 Million Bond Buyback

Transportadora de Gas del Sur (TGS), the Argentine gas transmission company, has launched a buyback of its 2010 and 2013 bonds, which may cost it up to $424 million. The bonds were originally issued in connection with the company’s debt restructuring in 2004 when it exchanged just over $1 billion in debt for the new bonds. The buyback offer expires on May 7 with an early deadline of April 23.