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Banco Mariva raises 300M Argentine pesos in oversubscribed note auction

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Banco Mariva raises 300M Argentine pesos in oversubscribed note auction

Banco Mariva SA said March 19 that it raised 300.0 million Argentine pesos through an oversubscribed auction of simple negotiable obligations.

The bank received 561.0 million pesos in total orders in the offering, which was set at 100.0 million pesos but expandable to up to 300.0 million pesos. The notes will carry a variable interest rate plus a margin of 323 basis points, with interest payable quarterly.

The securities were issued on March 21 and will mature on Sept. 21, 2019.

As of March 22, US$1 was equivalent to 20.25 Argentine pesos.