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LAWFUEL – Best for law news – “In what is reportedly the largest Arge…

LAWFUEL – Best for law news – “In what is reportedly the largest Argentine private debt restructuring to date, gas transportation company Transportadora de Gas del Sur SA has restructured substantially all of its financial debt, totalling over US$1 billion. The transaction closed on December 15. . . .”

The restructuring was consummated through an exchange offer with respect to US$ 600 million of outstanding bonds; loan agreements with Inter-American Development Bank with respect to US$ 326 million in outstanding loans; and the issuance of new debt securities to holders of approximately US$ 92.6 million of the company’s outstanding short-term debt.

“In the US, TGS was advised by SULLIVAN & CROMWELL LLP, in Washington DC, through partner Robert Risoleo, and associates Veronique Fine, Christine Brennan, Kirsten McGarvey, Scott Ashton, Christopher Campbell and Sean Gallagher. New York based partner Jeffrey Hochberg and associate Sam Lichtman provided US tax advice. . . .”

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.