Argentina-based Banco de la Provincia de Córdoba SA on Dec. 14 will auction two series of negotiable obligations for up to $25.0 million each, both expandable up to $50.0 million.
The nominal value to be issued of the negotiable obligations as a whole should not exceed $50.0 million, the bank said in a filing.
The series I notes have a maturity of 18 months while the series II securities have a maturity of 36 months. Both carry variable rate yields.
The securities will be offered and liquidated two business days after the auction date.
Banco de la Provincia de Córdoba SA, Banco de Galicia y Buenos Aires SA, Industrial Valores SA and TPCG Valores SA serve as underwriters for the offering.
Proceeds from the offerings will be used by the bank in the integration of working capital in Argentina, funding productive or infrastructure projects through investments in the physical assets of the bank as well as granting loans.
The offerings are part of the bank's global issuance program of negotiable obligations for up to $100.0 million.
