By Rebecca Melvin
New York, July 13 – Buenos Aires priced €500 million of 5 3/8% senior notes due Jan. 20, 2023 at 99.455 to yield 5½%, or mid-swaps plus 512.3 basis points, on Thursday, according to a syndicate source.
The notes were talked at a 5½% to 5¾% yield.
The Rule 144A and Regulation S deal (expected ratings B3/B) was marketed by joint lead managers and bookrunners Deutsche Bank, HSBC and Santander Investment Securities.
Proceeds will be used to fund social, infrastructure and other public investment projects, to strengthen its debt maturity profile and to make debt service payments.
| Issuer: | Buenos Aires
|
| Amount: | €500 million
|
| Maturity: | Jan. 20, 2023
|
| Description: | Senior unsecured notes
|
| Bookrunners: | Deutsche Bank, HSBC and Santander Investment Securities
|
| Coupon: | 5 3/8%
|
| Price: | 99.455
|
| Yield: | 5½%
|
| Spread: | Mid-swaps plus 512.3 bps
|
| Trade date: | July 13
|
| Settlement date: | July 20
|
| Ratings: | Moody's: B3
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-to-high-5%
|
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