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Banco de la Nación Argentina plans debt sale to meet soaring mortgage demand

In order to finance soaring demand for mortgage credit in Argentina, state-run Banco de la Nación Argentina plans to issue bonds in the second half of 2018, Clarín reported, citing Chairman Javier González Fraga.

The executive did not specify the size of the planned issuance, but said it would involve debt denominated in U.S. dollars, Argentine pesos and inflation-indexed units called UVAs. The company could also issue a green bond.

The medium- and long-term placements will be made in both the local market and abroad, Fraga said.

Demand for mortgage loans in Argentina has been growing at twice the rate of banks' deposit growth, placing pressure on the banking sector's liquidity position. But this has so far not been a concern for Banco de la Nación.

"In no way are we stopping mortgage loans," Fraga was quoted as saying.

Separately, the chairman also dismissed allegations of nepotism surrounding the recent appointment of Mariana Triaca, the sister of Argentina's labor minister, as a director at the bank, El Cronista reported.

Triaca, he said, is "tremendously efficient at work" and will play a key role in structuring the debt issuances planned for next year.