NEW YORK, March 2 (IFR) - The Province of Buenos Aires will start fixed-income investor meetings this week in Europe and the U.S. as it seeks to market a potential US dollar bond.
Roadshows come just days after the government cut an historic agreement with major holdout investors, effectively bringing an end to a fierce legal battle that has kept the sovereign locked out of the capital markets for over a decade.
The province of Buenos Aires, which is reportedly seeking up to US$500m, will likely be the first of several Argentine provinces tapping the bond markets in coming months.
The Province of Neuquen and Mendoza are also heard lining up to issue debt as markets take an increasingly favorable view of the South American country following the election of business friendly President Mauricio Macri last year.
The Province of Buenos Aires has mandated Citigroup, HSBC and JP Morgan to take it on the road and is scheduled to visit investors in London on March 4, New York on March 7 and Boston and Los Angeles on March 8.
Ratings are Caa2/B-/B- (positive/stable/stable).
Reporting By Paul Kilby