Overview

• Aconcagua reported 96.42% of eligible debt tendered to the CNV, surpassing the 90% threshold that activates its agreement with Tango Energy.
• Tango is set to acquire 90% of the equity for a US$36 million capital injection, with ex‑YPF chief Pablo Iuliano positioned to assume the CEO role once the deal is finalized.
• The restructuring replaces multiple series with five new notes in pesos and dollars maturing between 2029 and 2032, featuring step‑up rates after more than 10,000 exchange instructions.
• The company dispensed with a condition requiring at least 90% conversion of certain pagarés into new notes, and filings indicate holders received accrued interest to August 25 on the old series.
• Management says the new funds will restore liquidity and operations rather than repay historic liabilities, following a June default and first‑half output declines of about 11% in oil and 96% in gas.