Banco Santander Río S.A. said that it will issue 1.50 billion Argentine pesos worth of short-term bonds on March 30 under a $500 million global bond program.

The bank plans to issue roughly 241.9 million pesos worth of 18-month class XVII bonds at par with a cut-off margin of 1.90%, as well as 1.26 billion pesos worth of 36-month class XIX bonds at par with a 2.47% cut-off margin.

Santander Río noted that the issuance of class XIX bonds was subject a proration factor of 52.05%. All told, the company received 64 purchase orders on the offering.

Interest on both bond series is payable quarterly.

As of March 28, US$1 was equivalent to 15.54 Argentine pesos.