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Credito Argentino to sell 1.5B Argentine pesos in bonds

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Credito Argentino to sell 1.5B Argentine pesos in bonds

Banco De Credito Argentino SA on Dec. 18 plans to sell up to 1.5 billion Argentine pesos worth of series 3 bonds, according to a company filing.

The issuance will include class A and class B bonds, with maturity dates of 9 months and 24 months, respectively.

For both classes, the interest rate will be based on the Badlar benchmark rate plus a spread to be defined during the sales process.

The operation will be led by Banco de Valores SA and INTL CIBSA SA.

As of Dec. 11, US$1 was equivalent to 59.83 Argentine pesos.