Argentina'sBACS Banco de Crédito y SecuritizaciónSA will issue 24-month bonds on July 27 that are worth 249.5 millionArgentine pesos, the bank said in a securities filing July 22.
The bankreceived 71 bids totaling 449.3 million pesos. The initial offering was for up to 30 million pesos, expandable to 250million pesos.
The interestrate will be the benchmark Badlar rate plus a cut-off margin of 3.45%. The bondswill pay a minimum nominal annual interest rate of 30% in the first payment period.
The placingagents were: BACS Banco de Crédito y Securitización, Banco Hipotecario, Banco deServicios y Transacciones, Nuevo Banco de Santa Fe and Balanz Capital Valores.
The issuanceis part of the bank's global bond program for up to $150 million or its equivalentin pesos.
As of July 22, US$1 was worth14.98 Argentine pesos.