Argentina's Banco Hipotecario plans to sell ARS 80 million of notes

By Caroline Salls

Pittsburgh, Sept. 30 - Banco Hipotecario SA plans to sell up to ARS 80 million series I variable-rate 18-month notes at par under its $500 million global notes program, according to a news release.

The issuance amount can be increased to ARS 120 million.

The notes will accrue interest at the private Badlar rate plus a margin, which is yet to be determined.

The minimum subscription amount will be ARS 400,000, and the notes will be sold in ARS 1,000 increments after that.

Fitch Argentina Calificadora de Riesgo SA rated the notes AA(arg)-, and Standard & Poor s International Ratings, LLC rated them raAA.

BACS Banco de Credito y Securitizacion SA is the agent and bookrunner.

Banco Hipotecario is a Buenos Aires-based commercial bank.

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