Research Reports

Key takeaways

EDENOR increased the tender cap from $150M to $175M for its 9.75% Senior Notes due 2030.

The company accepted $175M principal amount of notes tendered by the early deadline.

Early settlement is expected on April 30, 2026, with no final settlement date.

Holders will receive $1,020 per $1,000 principal plus accrued interest.

The offer was oversubscribed; accepted notes were prorated at 64.73%.

The withdrawal deadline has passed; tendered notes cannot be withdrawn.

Full analysis

EDENOR announced the early tender results of its debt tender offer for its 9.75% Senior Notes due 2030. The company increased the tender cap from $150 million to $175 million due to oversubscription, with $270.4 million tendered by the early deadline. The company accepted $175 million at a proration factor of 64.73%, paying $1,020 per $1,000 principal plus accrued interest. Early settlement is expected on April 30, 2026, and no final settlement date will occur. This transaction reduces the company's outstanding debt and interest expense, improving its financial profile. The offer was managed by dealer managers including Banco BTG Pactual, BofA Securities, UBS, and Latin Securities.

EDN · Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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