Jul
2
Banco Macro and Banco Galicia announce the successful placement of the City of Buenos Aires Public Bonds
Buenos Aires, June 24, 2014. The Government of the City of Buenos Aires successfully placed public bonds in an amount in excess of US$ 99 million in the domestic financial market.
In the frame of the Program for Local Market Financing (Programa de Financiamiento en el Mercado Local), the City of Buenos Aires launched two new calls for bids for an aggregate extendable amount of US$90 million, namely: fixed-rate, US Dollar denominated Public Debt Bonds No. 8 (subscribed for, and payable in, Argentine Pesos) maturing 24 months from the date of issue thereof and floating-rate Argentine Pesos denominated Public Debt Bonds No. 9 maturing 24 months as from the date of issue thereof.
Top Company Interviews
Bids were received for an amount in excess of US$112 million, the amount of US$75,593,000 was awarded at an interest rate of 2.48% for Public Debt Bonds No. 8, and the amount of AR$ 195,840,000 was awarded at a 3.75% margin over BADLAR Private Banks rate for Public Debt Bonds No. 9, thus, resulting in an aggregate issue of US$ 99,593,000.
In both cases, the arrangers were Banco Macro SA and Banco Galicia y Buenos Aires SA, and the placement agents were Macro Securities SA and Banco Galicia y Buenos Aires SA.
The success of this transaction evidences the investors’ interest and trust in, and support of, the City of Buenos Aires, resulting from its adequate economic and fiscal policies.
Milagro Medrano
Institutional Relations Manager
Comments
Leave a Reply
You must be logged in to post a comment.