Argentina’s Banco de Galicia plans up to $100 million class IV notes

By Marisa Wong

Morgantown, W.Va., April 7 – Grupo Financiero Galicia SA said the board of directors of its subsidiary, Banco de Galicia y Buenos Aires SA, approved an issuance of up to $100 million of class IV notes.

The class IV notes will be issued under the bank’s $1.1 billion global note program.

The issuance may be increased up to a maximum amount not issued under the program of $399,463,000 or its equivalent in other currencies, according to a filing with the Securities and Exchange Commission.

Proceeds will be used for working capital purposes and to refinance debt.

The financial services holding company is based in Buenos Aires.

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