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HSBC Argentina to offer bonds worth up to 13B pesos

HSBC Bank Argentina SA will offer three series of negotiable bonds worth up to 13.0 billion Argentine pesos on Dec. 1, according to multiple securities filings.

The bank will auction series 5 bonds worth up to 1.0 billion pesos, expandable up to 2.0 billion pesos, with a maturity date of Aug. 4, 2020. It will also offer 18-month series 6 securities worth up to 2.0 billion pesos, expandable up to 5.5 billion pesos.

The offering will further include 36-month series 7 bonds worth up to 2.0 billion pesos, expandable up to 5.5 billion pesos.

The notes will be issued on Dec. 7 and are part of a bond program worth up to US$500.0 million, or its equivalent in other currencies.

The bank plans to use the proceeds for working capital.

As of Nov. 28, US$1 was equivalent to 17.33 Argentine pesos.