By Caroline Salls
Pittsburgh, July 1 – Argentina’s minister of finance placed two news bonds on the international market, totaling $2.75 billion, in order to finance the repurchase of GDP coupons, according to a news release.
Specifically, the minister placed $1 billion of 12-year bonds with a coupon of 6 5/8% and $1.75 billion of 20-year bonds with a coupon of 7 1/8%.
Both priced at par.
The bonds came to market in line with launch levels and both tranches came at the tight end of talk, which was set at the 6¾% area for the twelve-year bonds and the 7¼% area for the twenty-year bonds.
Argentina received $6,708,000,000 in orders for the bonds.
The issuance was carried out through a syndicate of banks formed by BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities and Morgan Stanley.
| Issuer: | Argentina
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| Issue: | International bonds
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| Price: | Par
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| Bookrunners: | BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, Morgan Stanley
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Rating: | Moody’s: B3
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| Standard & Poor’s: B-
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| Distribution: | Rule 144A, Regulation S
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| Twelve-year bonds
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| Amount: | $1 billion
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| Maturity: | July 6, 2028
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| Coupon: | 6 5/8%
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| Yield: | 6 5/8%
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| Twenty-year bonds
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| Amount: | $1.75 billion
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| Maturity: | July 6, 2036
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| Coupon: | 7 1/8%
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| Yield: | 7 1/8%
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