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Report: Argentine banks look to guarantee small firms' debt issuance

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Report: Argentine banks look to guarantee small firms' debt issuance

At least three Argentine banks, including Banco Mariva SA and Banco de Servicios y Transacciones SA, have requested authorization from the country's securities regulator to guarantee simple negotiable obligations issued by small and medium-sized companies, El Cronista reported.

Banco de Servicios y Transacciones has already been authorized to act as a guarantor for obligations. Meanwhile, Gastón Marini, corporate finance manager for Banco Mariva, said the bank should receive approval soon and will be guaranteeing obligations before year-end 2017.

Currently, Argentina has 24 reciprocal guarantee societies, or SGRs, that are certified by the central bank to work with small and medium-sized companies, the report noted.