HPDA Seeks 10-Year Money

Argentine utility Hidroeléctrica Piedra del Aguila (HPDA) is seeking $125m in 10-year non call fives with pricing slated for Friday June 29. Roadshows are taking place in Europe on Monday, New York Tuesday and Wednesday, and Boston Thursday. Guidance is expected Wednesday or Thursday. HPDA is the largest private hydroelectric generator in Argentina. Proceeds are to refinance debt from its 1999 and 2004 restructuring and for working capital. The company holds a concession until 2023, from the Argentine government to operate its hydroelectric facility and for the generation and sale of electricity. Merrill Lynch has sole books.