Autopistas del Sol Seeks $220m

Argentine toll road operator Autopistas del Sol is looking to raise up to $220m in amortizing senior notes due 2017 as part of a liability management exercise. The company is tendering for $100m in 7% of 2009 bonds and exchanging up to $110m its 2014 for new 2017 notes which start amortizing in 2012. The company, which has over $300m in outstanding debt, will see a small reduction in total indebtedness. The new notes have a BB+ local rating from S&P. Holders need to tender by May 16. Citi is leading.