Repsol YPF Argentina Offering Shares

Oil company Repsol YPF is to sell 874,586 class ‘D’ shares belonging to a workers group this week, according to a filing with CNV, Argentina’s securities commission. The shares will be offered via Dutch auction on the Buenos Aires Stock Exchange and will be sold via MBA Sociedad de Bolsa. The share price will be set at not less than 90% of the average share price during the last six months, nor below 90% of the share’s closing price on February 6.

Pampa Holding Raises $180 Million

Argentine energy holding company Pampa Holdings, part of Dolphin Group, priced its share offering at 2.23 pesos per share ($0.714) and its GDS at $18, the company said on Friday. The company is selling 600 million of new shares via the Buenos Aires Stock Exchange. The subscription period for the new shares will close on February 9. UBS Securities and Raymond James & Associates are arranging the transactions. In October last year Pampa issued 300 million shares worth $112 million via the Stock Exchange as part of a structural reorganization and move to increase its share capital.

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.