Business Context and Reporting Period
This Form 6-K filing by Empresa Distribuidora y Comercializadora Norte S.A. (EDENOR), an Argentine utility company, serves as a First Complementary Notice regarding a debt issuance. The filing date is May 7, 2009, with the notice dated May 5, 2009. The document updates the Pricing Supplement dated April 20, 2009, concerning Floating Rate Class 8 Notes due in 2013.
Key Financial Metrics
The filing details the finalization of a specific debt instrument rather than reporting operational financial performance.
- Instrument: Floating Rate Class 8 Notes due 2013.
- Issuance Date: May 7, 2009.
- Principal Amount Issued: Ps. 75,700,000 (Argentine Pesos).
- Margin: 6.75% per annum.
- Maximum Authorized Principal: Up to Ps. 150,000,000 (the issued amount represents a portion of this authorization).
The filing text does not provide values for revenue, profit, cash flow, operating margins, total debt, or liquidity ratios.
Material Changes
The material change disclosed is the confirmation of the issuance date and the specific principal amount for the Notes, which were previously outlined in the April 20, 2009 Pricing Supplement. The actual principal amount issued (Ps. 75,700,000) is less than the maximum potential amount (Ps. 150,000,000) referenced in the initial supplement.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. It is a procedural notice confirming the terms of a debt issuance. No unusual items are reported.
Investor Verification Checklist
- Verify the final interest rate calculation based on the 6.75% margin and the applicable benchmark rate.
- Confirm the total outstanding debt load of EDENOR following this issuance of Ps. 75,700,000.
- Review the full Pricing Supplement dated April 20, 2009, for covenants and repayment terms not detailed in this notice.
- Assess the impact of the Argentine Peso denomination on currency risk for international investors.