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Banco Mariva to auction up to 300M pesos in bonds

Banco Mariva SA on March 19 will auction simple, negotiable obligations for up to 100.0 million Argentine pesos, expandable to 300.0 million pesos, the bank said in a March 9 securities filing.

The notes will be issued in two classes maturing at 18 and 36 months, both accruing interest at a variable rate which is equivalent to the sum of the reference rate plus an applicable margin. Interest payments will be made on a quarterly basis.

The bank will issue the bonds March 21.

Both classes of notes have an A (arg) rating from Fix SCR SA.

Banco Mariva SA and Macro Securities SA are the co-placing agents for the issuance, while Provincia Bursátil SA serves as subplacing agent.

The offering is the first series under the bank's global negotiable obligations program for up to 300.0 million pesos.

As of March 8, US$1 was equivalent to 20.38 Argentine pesos.