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Argentina's FCA Compañía Financiera to offer up to 500M pesos in bonds

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Argentina's FCA Compañía Financiera to offer up to 500M pesos in bonds

Argentina's FCA Compañía Financiera SA on March 21 will auction simple, nonconvertible negotiable obligations for up to 300.0 million pesos, expandable up to 500.0 million pesos.

The class XV notes have two series, with one series carrying a 12-month term and the other a 36-month term. Both will have variable interest rates and will be issued March 23.

Banco de Galicia y Buenos Aires SA and Industrial and Commercial Bank Of China (Argentina) SA serve as organizers and placement agents. Banco de Galicia also serves as the liquidation agent.

The offering, which was approved in February, is part of the bank's global program for the issuance of simple negotiable obligations worth $100.0 million.

As of March 16, US$1 was equivalent to 20.28 Argentine pesos.