Argentina-based Banco Hipotecario SA has begun a cash purchase offer for up to US$75.0 million in aggregate principal amount of its outstanding 9.750% notes due 2020.

The company is offering noteholders US$965.00 for every US$1,000 principal amount of notes, plus accrued interest. Holders will also receive an early tender premium of US$30.00, for a total consideration of US$995.00, if they validly tender their notes at or prior to 5 p.m. ET on March 26.

The tender offer will expire at 11:59 p.m. ET on April 9.

D.F. King & Co. Inc. is acting as tender agent and information agent. Itau BBA USA Securities Inc. and J.P. Morgan Securities LLC are acting as dealer managers.