Second-Quarter 2019
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CARTERAS MERVAL Y M.AR 2011
COMPOSICIÓN DE LA CARTERA DEL INDICE MERVAL MERVAL INDEX PORTFOLIO AND WEIGHTS PRIMER TRIMESTRE DE 2011 TERCER TRIMESTRE DE 2011 - First Quarter 2011 - - Third Quarter 2011 - Especie % Especie % Especie % Especie % -Stock- -Stock- -Stock- -Stock- Grupo Financiero Galicia 18.32% Banco Hipotecario 3.98% Grupo Financiero Galicia 15.65% Petrobras Energía 3.30% Tenaris 15.53% Edenor 3.61% Petroleo Brasileiro 10.26% Edenor 3.02% Petroleo Brasileiro 11.48% Transener 3.13% Telecom Argentina 9.81% Molinos 2.61% Pampa Energía 7.82% Banco Macro 3.07% Tenaris 9.07% Banco Patagonia 2.57% Telecom Argentina 7.18% Petrobras Energía 2.82% Pampa Energía 7.75% Mirgor 2.52% Siderar 5.79% YPF 1.81% Banco Francés 6.10% Ledesma 2.36% Banco Francés 4.90% Molinos 1.31% YPF 5.60% Transener 2.22% Aluar 4.01% Ledesma 1.25% Siderar 4.96% Banco Hipoetecario 2.06% Banco Patagonia 3.98% Banco Macro 4.66% Comercial del Plata 1.85% Aluar 3.64% SEGUNDO TRIMESTRE DE 2011 CUARTO TRIMESTRE DE 2011 - Second Quarter 2011 - - Fourth Quarter 2011 - Especie % Especie % Especie % Especie % -Stock- -Stock- -Stock- -Stock- Grupo Financiero Galicia 15.85% Banco Hipotecario 3.72% Grupo Financiero Galicia 18.45% Edenor 2.94% Petroleo Brasileiro 12.29% Edenor 3.67% Tenaris 14.56% Aluar 2.79% Tenaris 9.82% YPF 3.49% Telecom Argentina 8.85% Petrobrás Argentina S:A. 2.75% Pampa Energía 8.85% Petrobras Energía 3.18% Banco Macro 7.32% Molinos 2.07% Telecom Argentina 8.03% Transener 3.16% Pampa Energía 7.13% Comercial del Plata 1.81% Siderar 5.80% Banco Macro 3.15% Petroleo Brasileiro 6.87% -
Pampa Energía S.A
SUPLEMENTO DE PROSPECTO PAMPA ENERGÍA S.A. OBLIGACIONES NEGOCIABLES CLASE 1 DENOMINADAS EN DÓLARES A TASA FIJA CON VENCIMIENTO A LOS 5, 7 O 10 AÑOS CONTADOS DESDE LA FECHA DE EMISIÓN POR UN VALOR NOMINAL DE HASTA US$500.000.000 (AMPLIABLE POR HASTA US$1.000.000.000) A EMITIRSE EN EL MARCO DEL PROGRAMA DE EMISIÓN DE OBLIGACIONES NEGOCIABLES SIMPLES (NO CONVERTIBLES EN ACCIONES) POR HASTA US$ 1.000.000.000 (O SU EQUIVALENTE EN OTRAS MONEDAS) Este suplemento de prospecto (el “Suplemento”) corresponde a las Obligaciones Negociables Clase 1 denominadas en Dólares a Tasa Fija con Vencimiento a los 5, 7 o 10 años contados desde la Fecha de Emisión (las “Obligaciones Negociables”), a ser emitidas por Pampa Energía S.A. (indistintamente, la “Sociedad”, “Pampa Energía”, la “Compañía” o la “Emisora”) en el marco del Programa de Emisión de Obligaciones Negociables Simples (No Convertibles en Acciones) por hasta US$1.000.000.000 (o su equivalente en otras monedas) (el “Programa”). La oferta pública de las Obligaciones Negociables en Argentina está destinada exclusivamente a Inversores Calificados (tal como dicho término se define más adelante). Las Obligaciones Negociables serán emitidas de conformidad con la Ley N° 23.576 y sus modificatorias (la “Ley de Obligaciones Negociables”), la Ley N° 26.831 de Mercado de Capitales, sus modificatorias y reglamentarias, incluyendo, sin limitación, el Decreto N° 1023/13 (la “Ley de Mercado de Capitales”) y las normas de la Comisión Nacional de Valores (la “CNV”) según texto ordenado por la Resolución General N° 622/2013, y sus modificatorias (las “Normas de la CNV”) y cualquier otra ley y/o reglamentación aplicable. -
Annual Report Edenor Table of Contents
2010 annual report Edenor table of contents Introduction Concession Area 3 Supervisory and Administration Bodies – 2010 Fiscal Year 5 Board of Directors 5 Supervisory Committee 6 Call to Meeting 7 CHAPTER 1: Economic Context and Regulatory Framework a. Argentine Economic Situation 10 b. Energy Sector 11 c. Regulation and Control 13 CHAPTER 2: Analysis of the Economic-Financial Operations and Results a. Relevant Data 15 b. Analysis of the Financial and Equity Condition 17 c. Investment 18 d. Financial Debt and Description of Main Sources of Funding 21 e. Description of Main Sources of Funding 23 f. Analysis of Financial Results 25 g. Main Economic Ratios 26 h. Allocation of Income/(Loss) for the Year 26 i. Business Management 26 j. Large Customers 28 k. Rates 30 l. Energy Purchase 33 m. Energy Losses 34 n. Delinquency Management 35 o. Technical Management 37 p. Service Quality 41 q. Product Quality 42 CHAPTER 3: SUPPORT TASKS a. Human Resources 44 b. It and Telecommunication 47 CHAPTER 4: RELATED PARTIES a. Description of the Economic Group 51 b. Most Significant Operations with Related Parties 53 CHAPTER 5: Business Social Responsibility a. Business Social Responsibility 56 b. Industrial Safety 58 c. Public Safety 58 d. Management of Quality 60 e. Environmental Management 61 f. Educational Programs 61 g. Actions with the Community 62 SCHEDULE I - Corporate Governance Report CNV General Resolution 516/2007 65 FINANCIAL STATEMENTS 72 3 CONCESSION AREA Edenor exclusively renders distribution and and Río de La Plata avenue. In the Province of marketing services of electrical energy to all Buenos Aires, it comprises the Districts Belén de users connected to the power supply network Escobar, General Las Heras, General Rodríguez, in the following area: In the Capital City: the former General Sarmiento (which now includes area defined by Dock “D”, street with no name, San Miguel, Malvinas Argentinas and José C. -
Pampa Energía and Edenor 2Q 2012 Conference Call Presenting for Pampa Energía: Ricardo Torres, CEO of Pampa Energía and Chairman of Edenor
Buenos Aires, August 22nd, 2012 (10 am Eastern Time) Pampa Energía and Edenor 2Q 2012 Conference Call Presenting for Pampa Energía: Ricardo Torres, CEO of Pampa Energía and Chairman of Edenor Ricardo Torres: Thank you very much. Good morning everyone and thanks for joining us on this joint conference call. I would like to focus first on the main events that took place in the last couple of months, then briefly review the results of the second quarter and finally comment on the general situation of Pampa and particularly Edenor. As you know, you can always call me or anybody of our team for more details on the numbers of the period or any doubts you might have. We also have a complete set of figures in our webpage that you can access. Going to the relevant events of the quarter, first of all a month ago Pampa reached a settlement agreement with Petrobras, in which both parties agreed to withdraw all claims between Petrobras, AEI, and Pampa. Pampa received that claims as part of our acquisition of AEI assets at the beginning of 2011. The agreement includes as a condition, the cancelation of the entire unpaid debt of CIESA due since 2002. So, Pampa received from CIESA the 4.3% ownership of TGS; 87 million dollars which were used to cancel 70 million dollar of the 90 million dollar loan granted by Citibank N.A. and Standard Bank to finance the acquisition of CIESA debt, and Pampa was appointed as beneficiary and custodian of the 40% of the shares in trust of CIESA. -
Prospecto De Prórroga
PROSPECTO Programa de Emisión de Obligaciones Negociables por un monto nominal máximo en circulación en cualquier momento de hasta US$ 500.000.000 (o su equivalente en pesos o en otras monedas) de BANCO SANTANDER RÍO S.A. (constituido de conformidad con las leyes de la República Argentina) Banco Santander Río S.A. (“Santander Río” o el “Banco” o el “Emisor”), una sociedad anónima constituida de conformidad con las leyes de la República Argentina (“Argentina”), y sujeta a todas las leyes, normas y reglamentaciones aplicables, podrá periódicamente emitir en una o más series y/o clases (las “Series” y “Clases”) (según los términos que se definen en el presente) obligaciones negociables con los plazos que se estipulen en cada suplemento de precio aplicable (las “Obligaciones Negociables”) en virtud del programa descripto en el presente prospecto (el “Programa”). El monto nominal máximo en circulación en cualquier momento del Programa es de hasta US$ 500.000.000 (o su equivalente en pesos o en otras monedas calculado según se describe en el presente). Excepto según se describe con mayor detalle en este prospecto de Programa (el “Prospecto”), las Obligaciones Negociables emitidas de conformidad con el Programa podrán (i) ser denominadas en la moneda o en las monedas que se convengan, (ii) tener el vencimiento mínimo desde la fecha de emisión que autorice la normativa vigente, (iii) emitirse a la par o con prima o descuento sobre la par, (iv) devengar intereses sobre una tasa fija o variable (o en relación con una base) o emitirse a una base totalmente descontada sin devengar intereses, (v) establecer que el monto anual pagadero por rescate sea fijo o en relación con un índice o fórmula y/o (vi) estar garantizadas o subordinadas, y/o (vii) establecer que el pago del capital y/o de los intereses deberá hacerse en una moneda o en monedas que no sea la moneda original de emisión. -
Boletin Septiembre05
THE ARGENTINE EMBASSY IN THE UNITED KINGDOM ECONOMIC & COMMERCIAL SECTION 65 Brook St. London W1K 4AH Tel: 020 7318-1300 Fax: 020 7318-1331 [email protected] www.argentine-embassy-uk.org NEWSLETTER SEPTEMBER 2005 Content ARGENTINE ECONOMIC OVERVIEW *Extracts from the statement made by President Néstor Kirchner at the United Nations General Assembly (14 September 2005) FINANCIAL SECTOR *Private debt restructuring – Telecom Argentina reached an agreement with its creditors *Argentina cancelled its auction of the new Boden 2015 bonds INVESTMENTS IN ARGENTINA *Investment increased by 24.4% in the second quarter of 2005 *Internal report from the Ministry of Economy on investment and its crucial role in the Argentine economy recovery *Investment in the meat industry *The textile industry could receive investments for 3bn pesos in five years *Bunge Argentina inaugurates a new port facility in Ramallo *The Canadian mining company Barrick Gold started its operations in San Juan *Intel, the world’s largest microchip maker, announces the implementation of two IT projects in Argentina *The Mexican Group Posadas will invest US$ 3.2 million in Argentina *Investments of 1bn pesos in public works NEWS *The Argentine economy grew by 7.8% in July 2005 *Industry activity grew by 7.6% in August 2005 *Primary fiscal surplus of 1.8bn pesos in August 2005 *Tax collection rose by 21.2% in August 2005 *Consumer prices index (CPI) increased by 0.4% in August 2005 *Poverty and extreme poverty fell to 38.5% and 13.6%, respectively *Inventors of products for the -
BONOS CORPORATIVOS DE ARGENTINA Fecha: 19/06/2020 Liquidación: 23/06/2020
BONOS CORPORATIVOS DE ARGENTINA Fecha: 19/06/2020 Liquidación: 23/06/2020 Valor Fecha Tasa Valor Valor Interés Precio (CLEAN) Rendimiento Rend. Duración Interest Risk Instrumento residual Paridad vencimiento cupón par técnico devengado Modificada Value Vendedor Comprador Medio YTM BEY Cte. +100 bps -100 bps Bancos Hipotecario 2020 30/11/2020 9,75% 100% 100 100,6 80% 0,61 $ 78,7 $ 81,1 $ 79,9 82,58% 70,25% 12,10% 0,24 -0,24% 0,24% Galicia 2026 (call) 19/7/2021 8,25% 100% 100 103,5 80% 3,52 $ 78,7 $ 79,6 $ 79,2 35,51% 32,82% 9,98% 1,06 -0,73% 1,02% Galicia 2026 (maturity) 19/7/2026 8,25% 100% 100 103,5 80% 3,53 $ 78,7 $ 79,6 $ 79,2 13,80% 13,35% 9,98% 3,98 -3,87% 4,09% Macro 2026 (call) 4/11/2021 6,75% 100% 100 100,9 79% 0,92 $ 78,0 $ 79,0 $ 78,5 27,04% 25,43% 8,50% 1,40 -1,02% 8,72% Macro 2026 (maturity) 4/11/2026 6,75% 100% 100 100,9 79% 0,92 $ 78,0 $ 79,0 $ 78,5 11,94% 11,60% 8,50% 4,52 -4,38% 4,66% GAS Y PETRÓLEO Pan American Energy 2021 7/5/2021 7,88% 33% 33 33,7 299% 0,34 $ 99,6 $ 100,9 $ 100,3 8,50% 8,33% 7,83% 0,79 -0,78% 0,79% CGC 2021 7/11/2021 9,50% 100% 100 101,2 72% 1,21 $ 71,1 $ 72,4 $ 71,7 41,08% 37,56% 13,02% 0,91 -0,91% 0,92% YPF 2021 23/3/2021 8,50% 100% 100 102,1 84% 2,13 $ 83,4 $ 84,0 $ 83,7 38,02% 34,96% 9,90% 0,53 -0,52% 0,53% YPF 2024 4/4/2024 8,75% 100% 100 101,9 79% 1,92 $ 78,4 $ 79,4 $ 78,9 19,58% 18,70% 10,83% 2,04 -2,01% 2,07% YPF 2025 28/7/2025 8,50% 100% 100 103,4 77% 3,42 $ 75,5 $ 76,3 $ 75,9 16,10% 15,50% 10,72% 3,37 -3,29% 3,46% YPF 2027 21/7/2027 6,95% 100% 100 102,9 73% 2,93 $ 71,8 $ 72,5 $ 72,2 13,52% -
Latin American Power Overview Outlook, Financial Performance, Regulatory Risk and Investments September 2019 Corporates Compendium Power / Latin America
Latin American Power Overview Outlook, Financial Performance, Regulatory Risk and Investments September 2019 Corporates Compendium Power / Latin America Table of Contents Latin American Power Overview ......................................................................................................................................... 2 Regulatory Risk Assessment .............................................................................................................................................. 3 Generation .......................................................................................................................................................................... 3 Installed Capacity ......................................................................................................................................................... 3 Growth and Expansion ................................................................................................................................................. 4 Power Generated ......................................................................................................................................................... 5 Distribution .......................................................................................................................................................................... 5 Corporates ......................................................................................................................................................................... -
519 NYSE, NYSE Arca and NYSE Amex-Listed Non-US Issuers from 47
519 NYSE, NYSE Arca and NYSE Amex-listed non-U.S. Issuers from 47 Countries (as of December 31, 2010) As of January 2009, Amex-listed non-U.S. Issuers have been included in this document Share Country Issuer † Symbol Market Industry Listed Type IPO ARGENTINA (10 DR Issuers ) Banco Macro S.A. BMA NYSE Banks 3/24/06 A IPO BBVA Banco Francés S.A. BFR NYSE Banks 11/24/93 A IPO Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) EDN NYSE Electricity 4/26/07 A IPO IRSA-Inversiones y Representaciones, S.A. IRS NYSE Real Estate Investment & Services 12/20/94 G IPO Nortel Inversora S.A. NTL NYSE Fixed Line Telecommunications 6/17/97 A IPO Pampa Energia S.A. PAM NYSE Electricity 10/9/09 A Petrobras Argentina S.A. PZE NYSE Oil & Gas Producers 1/26/00 A Telecom Argentina S.A. TEO NYSE Fixed Line Telecommunications 12/9/94 A Transportadora de Gas del Sur, S.A. TGS NYSE Oil Equipment, Services & Distribution 11/17/94 A YPF Sociedad Anónima YPF NYSE Oil & Gas Producers 6/29/93 A IPO AUSTRALIA (6 ADR Issuers ) Alumina Limited AWC NYSE Industrial Metals & Mining 1/2/90 A BHP Billiton Limited BHP NYSE Mining 5/28/87 A IPO James Hardie Industries N.V. JHX NYSE Construction & Materials 10/22/01 A Samson Oil & Gas Limited K SSN NYSE Amex Oil & Gas Producers 1/7/08 A Sims Group Limited SMS NYSE Support Services 3/17/08 A Westpac Banking Corporation WBK NYSE Banks 3/17/89 A IPO BAHAMAS (4 non-ADR Issuers ) Teekay LNG Partners L.P. -
Regional Energy Security: Re-Evaluating Concepts and Policies to Promote Energy Integration in Mercosur
REGIONAL ENERGY SECURITY: RE-EVALUATING CONCEPTS AND POLICIES TO PROMOTE ENERGY INTEGRATION IN MERCOSUR Thauan dos Santos Tese de Doutorado apresentada ao Programa de Pós- graduação em Planejamento Energético, COPPE, da Universidade Federal do Rio de Janeiro, como parte dos requisitos necessários à obtenção do título de Doutor em Planejamento Energético. Orientadores: Amaro Olímpio Pereira Júnior Emilio Lèbre La Rovere Rio de Janeiro Fevereiro de 2018 i ii Santos, Thauan dos Regional Energy Security: Re-evaluating concepts and policies to promote energy integration in Mercosur/Thauan dos Santos. – Rio de Janeiro: UFRJ/COPPE, 2018. XXIV, 286 p.: il.; 29,7 cm. Orientador: Amaro Olimpío Pereira Júnior Emilio Lèbre La Rovere Tese (doutorado) – UFRJ/ COPPE/ Programa de Planejamento Energético, 2018. Referências Bibliográficas: p. 236-286. 1. Energy security. 2. Energy integration. 3. Energy planning. I. Pereira Júnior, Amaro Olímpio et al. II. Universidade Federal do Rio de Janeiro, COPPE, Programa de Planejamento Energético. III. Título. iii ‘Nuestro norte es el sur’ Joaquín Torres García iv ACKNOWLEDGMENTS This thesis is the result of the support of a number of people and institutions. I hope to live up to each one of them right now. First of all, I thank my family for their unconditional support for my choices and decisions. To my parents, Simone and Wilson, for all the affection and opportunities. To my brothers, Luan Santos and João Pedro, for always being with me and being my ‘partners in crime’. In particular to Luan, who accompanies me since our mother’s belly and has been part of the most delicate moments of my life. -
Free Translation from the Original Prepared in Spanish for Publication in Argentina
Free translation from the original prepared in Spanish for publication in Argentina UNAUDITED CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS AS OF JUNE 30, 2019 AND FOR THE SIX AND THREE-MONTH PERIODS THEN ENDED PRESENTED IN COMPARATIVE FORMAT Free translation from the original prepared in Spanish for publication in Argentina GLOSSARY OF TERMS The following are not technical definitions, but they are helpful for the reader’s understanding of some terms used in the notes to the unaudited consolidated condensed interim financial statements of the Company. Terms Definitions ADR American Depositary Receipt ADS American Depositary Shares BCBA Bolsa de Comercio de Buenos Aires CABA Ciudad Autónoma de Buenos Aires CAMMESA Compañía Administradora del Mercado Eléctrico Mayorista S.A. CB Corporate Bonds CIESA Compañía de inversiones de energía S.A. CINIIF International Financial Reporting Interpretations Committee Citelec Compañía Inversora en Transmisión Eléctrica Citelec S.A. CNV Comisión Nacional de Valores – Argentine Securities Commisssion Corod Corod Producción S.A. CPB Central Piedra Buena S.A. CPD Own Distribution Costs CTB Central Térmica Barragán S.A. (Ex PEA) CTEB Central Térmica Ensenada de Barragán DAG Automatic Generation Shutdown Ecuador TLC Ecuador TLC S.A. Edenor Empresa Distribuidora y Comercializadora Norte S.A. ENARGAS Ente Nacional Regulador del Gas ENARSA / IEASA Integración Energética Argentina S.A. (previously Energía Argentina S.A.) ENRE National Regulatory Authority of Electricity Foundation Pampa Energía Foundation -
Oking for Additional Sources of Revenues
Memoria / Informe Contable Annual Report / Financial Information 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 2018 20 21 Memoria / Informe Contable 22 Memoria / Informe Contable 23 Annual Report / Financial Information 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 1 2 Sistema de Transmisión 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Sistema de Transmisión de Transba 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 MEMORIA / INFORME CONTABLE 63 3 1 Perfil de la compañía 2 3 4 La Compañía de Transporte de Energía Eléctrica en Alta de la provincia de Tierra del Fuego, Antártida e Islas del 5 Tensión Transener S.A. es la titular del Contrato de Concesión Atlántico Sur. Los generadores de mayor potencia, plantas 6 otorgado por el Estado Nacional por decreto Nº 2743/1992 industriales de gran demanda, empresas por Distribución 7 del 29 de Diciembre de 1992, y decreto Nº 1501/1993 del 16 Troncal, las empresas distribuidoras federales y la mayo- 8 de Julio de 1993; con las modificaciones introducidas por el ría de las empresas provinciales son clientes de Transener.