TGS Sends Out Feelers For Refinance

Transportadora de Gas del Sur (TGS), the Argentine gas transmission company, is evaluating proposals from up to six investment banks for a dollar-denominated offering expected to come to market by the end of Q1. In December, TGS filed a $650 million bond program locally. Bankers say given current favorable conditions, TGS could sell the entire amount in one go, but much will depend on pricing. Proceeds will go towards taking out bonds that have restrictive covenants.