Argentine oil producer picks up $115 mln in an 18-month syndicated loan as it expands its business
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Argentine oil and natural gas producer Compañía General de Combustibles (CGC) said Monday that it has signed a contract to borrow up to $115 million in a syndicated loan, a move that comes after acquiring the local assets of China's Sinopec.
The 18-month loan is from ICBC, Santander, Citi, Banco Galicia, Itaú, Banco Macro and Banco de Valores, CGC said in a securities filing. Itaú is the hedge provider, and ICBC the administrative agent.
The loan will be paid back in two equal installments, the