Buenos Aires mandates dollar-denominated deal, then backs away

By Paul A. Harris

Portland, Ore., Feb. 16 - The City of Buenos Aires mandated Barclays Capital, BTG Pactual and Citigroup to set up investor meetings ahead of a $415 million offering of bonds, according to market sources.

However, increased market volatility related to the ongoing credit crisis in the euro zone on Thursday prompted the issuer to back away from the primary market for the time being, a sellside source said.

Buenos Aires could revive the deal as early as next week, the source added.

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