By Wendy Van Sickle
Columbus, Ohio, May 3 – Argentina’s Banco Macro SA priced $300 million equivalent of 17˝% peso-denominated notes due 2022 at par, according to a Wednesday press release.
The notes were issued qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, according to a company announcement.
Proceeds will be used to refinance existing debt, to make loans under Central Bank guidelines and for general working capital.
The issue is part of the company’s $1 billion medium-term note financing program.
The issuer is a financial institution based in Buenos Aires.
| Issuer: | Banco Macro SA
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| Amount: | $300 million equivalent, denominated in pesos
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| Maturity: | 2022
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| Description: | Notes
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| Coupon: | 17˝%
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| Price: | Par
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| Yield: | 17˝%
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| Trade date: | May 3
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| Ratings: | Moody’s: B3
|
| Fitch: B(EXP)/RR4
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| Distribution: | Rule 144A and Regulation S
|
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