Central Puerto could be the next Argentine energy credit to tap the international bond market, following trades from peers such as AES Argentina, Pampa Energia and Genneia.
The company is “ready” to issue, but needs to “better define” its use of proceeds for a new bond sale, a source told LatinFinance at the 3rd Cumbre Financiera Argentina in Buenos Aires.
Central Puerto may print up to $500m in new bonds, but with heavy capex needs, the source said the company would likely sell more bonds, capitalizing on strong market conditions.
The company has been awarded two projects through Argentina’s RenovAr program, but is circling more opportunities in the second round of the government’s renewable energy program.
Deutsche Bank and JPMorgan were understood to be leading a potential bond sale for Central Puerto, debt capital markets sources previously said.
Electricity generator Capex earlier this week raised $300m in 2024 bonds, pricing the notes on the tighter side of initial price talk.