UPDATE 4-Argentina names banks for bond offer

martes 22 de marzo de 2016 18:34 GYT
 

(Adds details on bank lineup)

By Davide Scigliuzzo and Joy Wiltermuth

NEW YORK, March 22 (IFR) - Argentina has hired seven banks to manage its upcoming international bond sale, its first in over 15 years, sources familiar with the matter told IFR on Tuesday.

Deutsche Bank, HSBC, JP Morgan and Santander were awarded the top role of global coordinators for the bond sale, while BBVA, Citigroup, and UBS will join as bookrunners, one of the sources said.

All seven banks participated in a US$5bn one-year loan in January to help the government of newly elected President Mauricio Macri bolster foreign reserves.

The timing and currency of the bond offering are not yet certain, but the deal is expected to come to market before an April 14 deadline set in the agreement between holdouts and the government.

Expectations of a deal have been building since Argentina sealed an agreement with major holdout creditors three weeks ago.

Barring any objections from Congress, the South American country could try to issue around US$12bn of bonds in April in an effort to pay litigant investors and service past due interest on its restructured bonds.

"That's the million dollar question," said Sean Newman, a senior portfolio manager at Invesco Fixed Income who oversees emerging market and government bonds.   Continuación...