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GPAT Compañía Financiera board approves bond issuance worth 250M pesos

The board of Argentina's GPAT Compañía Financiera SA approved on Dec. 19 a new issuance of bonds worth up to 250 million Argentine pesos, the company said in a securities filing.

The series XXVI bonds will be issued under GPAT's negotiable bond program for up to 1.5 billion pesos, or its equivalent in other currencies.

In November, the Banco Patagonia SA subsidiary issued 18-month series XXV bonds worth 221 million pesos at an annual interest rate of 24%.

As of Dec. 20, US$1 was equivalent to 15.84 Argentine pesos.