New Issue: Province of Buenos Aires sells $400 million 2028 notes at 9 5/8%

By Reshmi Basu

New York, April 10 - The Province of Buenos Aires (B3/B+) sold a resurrected $400 million offering of amortizing notes due 2028 at par to yield 9 5/8%, according to a market source.

The deal priced in line with guidance for a yield of 9 5/8%.

On Feb. 28, the province shelved its $425 million note offering due to market conditions.

Barclays Capital and Deutsche Bank were lead managers for the Rule 144A and Regulation S offering.

Issuer:	Province of Buenos Aires
Amount:	$400 million
Issue:	Senior unsecured fixed-rate notes
Maturity:	April 18, 2028
Coupon:	9 5/8%
Issue price:	Par
Yield:	9 5/8%
Amortizations:	Equal installments on April 18, 2026, 2027, 2028
Lead managers:	Barclays Capital, Deutsche Bank
Pricing date:	April 10
Settlement date:	April 18
Distribution:	Rule 144A and Regulation S
Ratings:	Moody's: B3
	Standard & Poor's: B+
Price talk:	9 5/8%

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