Central Puerto issues $50 million in notes at 6% yield

Central Puerto placed $50 million of three-year Class F negotiable obligations with a fixed nominal annual interest rate of 6% and an internal rate of return of 6.09%. The offering received nearly 3,000 orders totaling $61.77 million, prompting the company to expand the placement from an initial target of up to $30 million. The notes were issued at 100% of par value with an indicated duration of 2.79 years.

The debt is denominated and payable in US dollars within Argentina under Central Puerto's $1,000 million simple notes program. Issuance and settlement take place on October 8, 2026, with principal maturing in full on October 8, 2029. Interest payments will be made semiannually starting April 8, 2027.

The transaction follows an active investment cycle for the generator. In January 2026, Central Puerto took over the concession for the approximately 1,440 MW Piedra del Águila hydroelectric plant, boosting total installed capacity to 6,933 MW. During the second quarter of 2026, power generation climbed 20.1% year over year to 5,250 GWh, aided by Piedra del Águila and Brigadier López production. In April 2026, the company entered oil and gas by acquiring 100% of Patagonia Energy for $50 million, securing rights to the Aguada del Chivato and Aguada Bocarey blocks across 110 square kilometers in the Neuquén Basin.

Capital expenditures reached $421.9 million in the first six months of 2026, compared with $102.4 million in the same period of 2025. Second-quarter investments totaled approximately $110.9 million, focused on hydrocarbons, plant maintenance, and 205 MW of battery energy storage systems (BESS). By August 2026, the 150 MW Nuevo Puerto storage project stood at 69% progress, while the 55 MW Central Costanera project reached 54%. The company has executed 81% of the $106 million planned battery capital expenditure, targeting commercial operations late this year with planned capacities of 750 MWh and 275 MWh, respectively.

As of June 30, 2026, Central Puerto posted gross debt of $671.9 million and net financial debt of $493.4 million, up from $439.2 million and $390.8 million at the end of March. Trailing 12-month adjusted EBITDA reached $403.8 million, placing its net debt-to-adjusted EBITDA ratio at 1.2 times.