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Argentina's Banco CMF to auction negotiable obligations

Banco CMF SA on Dec. 21 will bid two tranches of simple, nonconvertible negotiable obligations for up to 50.0 million Argentine pesos each, both expandable up to 500.0 million pesos, according to a regulatory filing.

The class 10 and 11 notes have a term of 18 and 36 months, respectively. Both yield at a variable rate during the first three months from their date of issue, which will be five business days after the bidding date.

The negotiable obligations have an A+(arg) rating, with a stable outlook, from FIX SCR SA Agente Calificadora de Riesgo.

Caja de Valores serves as the registration and payment agent.

The offering is within the framework of the bank's global program for the issuance of simple, nonconvertible negotiable obligations worth 1.00 billion pesos.

As of Dec. 15, US$1 was equivalent to 17.60 Argentine pesos.