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Argentina's GPAT Compañía Financiera completes 250M peso bond offer

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Argentina's GPAT Compañía Financiera completes 250M peso bond offer

GPAT Compañía Financiera SA said that its planned bond offering hit the maximum expandable amount of 250 million Argentine pesos.

The company received 26 bids totaling about 197.14 million pesos for its 1-year class A bonds and seven offers totaling some 52.86 million pesos for its 2-year class B bonds. The class A bonds carry an annual interest rate of 22.49%, payable quarterly; the rate on the class B bonds stands at 3.44%, also paid quarterly.

Both bond classes will be issued and settled on Jan. 24, the company said in a Jan. 19 filing.

As of Jan. 19, US$1 was equivalent to 15.98 Argentine pesos.