Banco Supervielle SA set the terms for the negotiable bonds offered in late January, with a duration established at 3.5 years and an interest rate of at least 18%, the company said in a Feb. 1 filing.
The company is looking to offer the Argentine peso equivalent of up to $250 million in the offering, though it is expandable to up to $300 million. The bond sale is part of an $800 million in bond program geared for international markets.
In 2016, Banco Supervielle issued bonds in the local market worth over 400 million Argentine pesos, while parent company Grupo Supervielle SA raised about $280.5 million in its IPO.
As of Jan. 31, US$1 was equivalent to 15.80 Argentine pesos.