Metrogas Offers Fourth Deadline Extension

Argentina’s largest gas distributor, Metrogas, has extended its debt swap offer deadline until 15 March to accommodate Italian bondholders. This is the fourth time it has reviewed the closing date for the restructuring which offers to swap $437 million of defaulted debt. The last extension was at the end of December when Metrogas gave investors until 11 January, hoping to increase the number of participating debtholders up from around 80%. Uptake currently stands at 90.56%, according to the company.