"We'll take only as many patacones as we need to pay our obligations to the provincial government," said Azurix spokesman Gustavo Pedace.
Carlos Serrano, a spokesman for the utility Edenor, said his company wasn't convinced.
"The governor talked about the grave situation in the province and said the only way to avoid ceasing payments was with this patacon bond," said Serrano. "We didn't sign on. We want to help but we need more information."
Since it's unclear whether the bills will be widely accepted, analysts said some workers may sell them at a discount for pesos or dollars.
"If it's hard to spend this money people will create a black market if history is any guide," said Dustin Reid, a currency strategist at UBS Warburg Llc in Stamford, Connecticut. "They will still want dollars under their mattresses."
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