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Argentina's FCA Compañía Financiera to auction negotiable obligations

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Argentina's FCA Compañía Financiera to auction negotiable obligations

Argentina's FCA Compañía Financiera SA on Dec. 12 will auction simple, nonconvertible negotiable obligations for up to 300.0 million pesos, expandable up to 500.0 million pesos.

The class XIV notes will have a term of 24 months and carry a variable rate. They will be issued and settled Dec. 14.

Banco de Galicia y Buenos Aires SA and Commercial Bank Of China (Argentina) SA serve as organizers and placement agents. Banco de Galicia also serves as the liquidation agent.

The offering is part of the bank's global program for the issuance of simple negotiable obligations worth $100.0 million.

As of Dec. 4, US$1 was equivalent to 17.28 Argentine pesos.