Edemsa to issue US$110mn in bonds

Argentina's Mendoza province power distributor Edemsa has decided to issue medium-term bonds with a maximum nominal value of US$110mn, the company told the Buenos Aires stock exchange. The bond issue is part of the company's process to restructure previously issued series 2 and 3 bonds and current debt of US$49.9mn, the statement said. The new bonds will be issued in four classes, two of which will be offered to current bondholders in exchange for new bonds, with the other two classes corresponding to debt. The statement highlighted that the restructuring process could be carried out by means of an out-of-court settlement (APE).