By Rebecca Melvin
New York, June 19 – Argentina priced $2.75 billion of 7 1/8% 100-year senior notes on Monday at 90 to yield 7.917%, a syndicate source said.
The bonds (expected ratings B3/B) were initially talked at a coupon of 8¼%.
Citigroup and HSBC were the joint bookrunners of the Regulation S and Rule 144A bond offering.
Proceeds will be used for general budgeting purposes.
Argentina issued its first debt in about 15 years in April 2016. The durations of those bonds were for five, 10 and 30 years. The long hiatus in accessing the capital markets came after the sovereign defaulted on $80 billion of debt in 2001.
| Issuer: | Argentina
|
| Amount: | $2.75 billion
|
| Maturity: | June 28, 2117
|
| Description: | Senior unsecured notes
|
| Bookrunners: | Citigroup and HSBC
|
| Co-managers: | Nomura Securities Co. and Banco Santander
|
| Coupon: | 7 1/8%
|
| Price: | 90
|
| Yield: | 7.917%
|
| Trade date: | June 19
|
| Expected ratings: | Moody’s: B3
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 8¼%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
