Argentine auto financing company Rombo Compañía Financiera SA on Jan. 25 plans to auction 24-month bonds worth up to 100 million Argentine pesos, expandable to 180 million pesos, the firm said in a securities filing.
The bonds, which will be issued Jan. 30, will pay a variable annual interest rate equivalent to a base rate plus a cut-off margin to be defined by the company. The minimum interest rate for the first interest payment period will be published before the auction.
BBVA Banco Francés will structure the issuance, while Banco Francés and Industrial and Commercial Bank of China will act as placing agents.
In November 2016, Rombo Compañía Financiera, which is known as Renault Crédit, garnered board approval for the offering of two series of bonds worth a total of up to 250 million pesos.
The issuance is part of the firm's corporate bonds program for up to 1.40 billion pesos.
As of Jan. 17, US$1 was equivalent to 15.88 Argentine pesos.