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BACS Banco de Crédito y Securitización to issue 24-month bonds

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BACS Banco de Crédito y Securitización to issue 24-month bonds

Argentina'sBACS Banco de Crédito y SecuritizaciónSA will issue 24-month bonds with a nominal value up to 30 million Argentinepesos, expandable up to 250 million pesos, at a minimum annual interest rate of30%, the bank said in a securities filing July 20.

The subscriptionperiod for the bonds was launched July 15.

The placingagents are: BACS Banco de Crédito y Securitización, Banco Hipotecario, Banco deServicios y Transacciones, Nuevo Banco de Santa Fe and Balanz Capital Valores.

Separately,the bank's board agreed July 19 to expand the maximum amount of its global negotiablebond program to $300 million, or its equivalent in other currencies.

As of July 20, US$1 was worth15.00 Argentine pesos.