Argentina's Grupo Supervielle to issue notes in two classes at par

By Caroline Salls

Pittsburgh, Sept. 18 - Grupo Supervielle SA is offering up to ARS 50 million of class VI fixed-rate 270-day notes and up to ARS 65 million class VII 18-month variable-rate notes, minus the amount of class VI notes issued, according to a news release.

The notes, which will be sold at par, will be issued under the company's $350 million global notes program.

The amount of the class VI notes can be increased to ARS 50 million.

The "dissemination period" will begin on Sept. 19 and end on Sept. 25, and the bidding period will begin after the dissemination period and end on Sept. 26.

The minimum subscription amount will be ARS 10,000, and the notes will be sold in ARS 1 increments thereafter.

Interest will accrue on the class VII notes at the Private Badlar rate plus an applicable margin to be set at the end of the subscription period.

Moody's Latin America has rated the notes A2.ar.

The agents are HSBC Bank Argentina SA, Banco Santander Río SA and Banco Supervielle.

The issuer owns Argentina's Banco Supervielle and Banco Regional de Cuyo SA.

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