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GPAT Compañía Financiera expands bond program to 3B pesos

Shareholders of Argentine lender GPAT Compañía Financiera SA on Jan. 18 agreed to expand the company's bond program to up to 3 billion pesos, or its equivalent in other currencies, and extend it by five years, the firm said in a securities filing.

The shareholders also agreed to extend the board's authority to decide on the timing and conditions of future issuances under the program.

According to a filing earlier in January, the bond program was worth up to 1.5 billion pesos or its equivalent in other currencies.

The day after the shareholders' decision, GPAT placed bonds worth 250 million pesos in the local market under the same program. This included 197.14 million pesos worth of 12-month class A bonds and 52.86 million pesos of 24-month class B bonds.

As of Jan. 20, US$1 was equivalent to 15.85 Argentine pesos.