Ausol Prolongs Tender

Autopsitas del Sol has again extended its debt exchange offer, this time to April 20 from a previous deadline of March 22, and notes it has received acceptance from holders representing $130.8m of its total $306m debt. The Argentine toll road operator is looking to stretch maturities on its debt, offering holders of 3.50% 2014 bonds and holders of 11.50% 2017 bonds one of 3 swap choices: 2015 ARP-denominated floating-rate bonds, new 2020 step-up notes, both in a par exchange, or $400 cash for $1,000 principal. Accepting holders choosing to receive new bonds also have the additional option of exchanging new notes obtained at par for new 2017 bonds at a 10% discount. Barclays is managing the process.