Argentine Utility Approaches Creditors After Missed Bond Payment

Two subsidiaries of Argentina’s utility Grupo Albanesi have reached out to creditors after missing a payment on dollar bonds it issued just six months ago.

Generacion Mediterranea SA and Central Termica Roca SA are approaching bondholders to resolve a dispute over $19 million in interest that came due on May 5, the companies said in a regulatory filing on Tuesday. Debt holders have yet to organize a formal creditors committee, according to people familiar with the matter, who asked not to be named because the discussions are private.

Investors have ditched the bonds since the companies disclosed they would miss ...