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Norandino extends Edelnor guarantees deadline again

Bnamericas
Chilean gas transport company Gasoducto Norandino has again extended the deadline for power generator Edelnor to present guarantees for a gas transport agreement (GTA) between the two, Edelnor told Chile's securities regulator SVS. The new deadline is December 31. Signed in 1997, the GTA states that if Edelnor falls below a BB+ rating from Standard and Poor's credit ratings agency, it must pay a guarantee stipulated in the GTA. The guarantee was a personal one given by former Edelnor controller Mirant. Belgian power company Tractebel controls Norandino and Edelnor. Edelnor owns the 166MW Mejillones I and 175MW Mejillones II coal-fired plants and the 250MW Mejillones III natural gas-fired plant, all of which are situated in Mejillones in northern Chile''s Region II.

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