Pampa Energia’s CT Barragan closes $170 million non-recourse loan

By Sarah Lizee

Olympia, Wash., June 27 – Pampa Energia SA announced that CT Barragan SA closed a $170 million loan with a syndicate of banks in connection with its acquisition of a thermal power plant located in Buenos Aires.

On Wednesday, Integracion Energetica Argentina SA sold the Ensenada de Barragan Thermal Power Plant to CT Barragan, which is jointly controlled by Pampa Cogeneracion SA, a subsidiary of Pampa Energia, and YPF SA, according to a notice.

The loan was entered into on a non-recourse basis to CT Barragan’s shareholders, as from the commercial commissioning of the power plant within 30 months.

The joint price related to the acquisition amounted to $282 million, which includes the cash amount bid in the public tender and the purchase price of some debt securities.

Pampa Energia is an energy company based in Buenos Aires.

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