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Supervielle to auction up to 3.5B Argentine pesos in negotiable obligations

Banco Supervielle SA on Dec. 20 will offer two series of negotiable obligations, each valued at 1.00 billion Argentine pesos, expandable up to 3.50 billion pesos.

The combined value of both series should not exceed 3.50 billion pesos, the bank said in a filing.

The class B debt carries a variable rate and has a maturity of 24 months. Meanwhile, the class C notes yield at a variable rate and have a term of 48 months. Both series will be issued Dec. 22.

The offerings are part of the bank's global program of simple negotiable obligations worth up to $800.0 million.

Banco Supervielle and Banco Itaú Argentina SA will serve as underwriters on the offering, while AR Partners SA and SBS Trading SA will serve as secondary underwriters.

As of Dec. 13, US$1 was equivalent to 17.31 Argentine pesos.