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Argentina's BBVA Banco Frances announces notes subscription period
By Caroline Salls
Pittsburgh, Sept. 2 - BBVA Banco Frances SA announced Friday that the subscription period for its Ps. 150 million of class 1 18-month variable-rate notes will begin on Monday and expire on Thursday, according to a news release.
As previously reported, the notes will be sold at par under the company's $500 million global notes program.
The Ps. 150 million issuance amount can be increased to Ps. 200 million.
The minimum subscription amount will be Ps. 400,000, and the notes will be sold in Ps. 1,000 increments thereafter.
The bank is also the agent for the class 1 issuance.
The notes have been rated AA(arg)+ by Fitch Argentina Calificadora de Riesgo SA and raAA with a stable outlook by Standard & Poor's International Ratings, LLC.
BBVA Banco Frances is a Buenos Aires-based bank.
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