April 15, 2016 / 3:57 PM / 2 years ago

Banks on Argentina bond to earn up to US$27m in total fees

NEW YORK, April 15 (IFR) - Banks leading Argentina’s jumbo bond sale, which is set to price next week, could earn up to US$27m in total fees, according to government documents published on Friday.

Argentina will pay a commission of 18bp to the underwriters arranging its first international bond sale in 15 years, which is expected to include maturities of five, 10 and 30-years.

The South American nation is expected to raise between US$12.5bn and US$15bn through the bond sale, bringing the total feel pool to between US$22.5m and US$27m, according to IFR calculations.

Deutsche Bank, HSBC, JP Morgan and Santander - the four global coordinators appointed to manage the offering - will each receive 19% of the total fee pool, or between US$4.28m and US$5.13m, based on the expected issue size.

Joint bookrunners BBVA, Citigroup and UBS, which will have a smaller role in the offering, will receive 8% of the fee pool each, or between US$1.8m and US$2.16m. (Reporting by Davide Scigliuzzo; Editing by Jack Doran)

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