trending Market Intelligence /marketintelligence/en/news-insights/trending/yfBsBwGxEzyA_QGBGJwvtA2 content esgSubNav
In This List

Tarjeta Naranja to issue bonds worth 1B Argentine pesos

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Tarjeta Naranja to issue bonds worth 1B Argentine pesos

Argentinefinancial services firm TarjetaNaranja SA plans to issue on Sept. 27 negotiable bonds worth 1billion Argentine pesos, the company said in a Sept. 22 filing.

Theinitial offering, which was comprised of two series, one with an 18-month termand another with a 48-month term, was for a total of 600 million pesosexpandable up to 1 billion pesos.

The18-month series is for 225.61 million pesos and will pay an interest rate basedon Argentina's private Badlar rate plus a cut-off margin of 2.99%.

The48-month series is for 774.39 million pesos with a cut-off margin of 3.99%.Both series will pay a minimum annual interest rate of 26%, the company said ina separate filing Sept. 21.

Therewas no proration on the 18-month bonds but the 48-month bonds had a prorationof 85.10%.

Thebonds are part of Tarjeta Naranja's global bond program for up to $650 millionor its equivalent in other currencies.

Bancode Galicia y Buenos Aires SA and HSBC Bank Argentina SA served as placingagents.

As of Sept. 22, US$1 wasworth 15.18 Argentine pesos.