Argentina starts marketing multi-billion bond sale

lunes 18 de abril de 2016 07:58 GYT
 

By Paul Kilby

NEW YORK, April 18 (IFR) - The Republic of Argentina announced a US$10bn-US$15bn multi-tranche bond sale on Monday as it looks to settle claims with holdout investors.

The South American country has set initial price thoughts of 6.75% area on a three-year tranche and 8% area on a 10-year tranche. The issuer is also marketing a five-year at 50bp below the 10-year yield and a 30-year at 85bp over.

Proceeds are going towards paying holdouts who have recently settled with the government.

Deutsche Bank, HSBC, JP Morgan and Santander are acting as global coordinators, while BBVA, Citigroup and UBS are coming in as joint bookrunners. Pricing is expected on Tuesday.

Expected ratings are B3/B- by Moody's and S&P. (Reporting By Paul Kilby, Editing by Helene Durand)