September 5, 2017 / 12:53 PM / in a year

Argentina increases 2024 bond issuance for 3rd time in 2 months

BUENOS AIRES, Sept 5 (Reuters) - Argentina increased its dollar-denominated Bonar 2024 sovereign bond issuance by up to $5 billion, the government said in the official gazette on Tuesday, the third time it has increased the bond in a little over two months.

President Mauricio Macri’s government also inked a repurchase deal for $1.8 billion worth of the bonds with UBS AG London branch, Deutsche Bank AG, Banco Bilbao Vizcaya Argentaria SA and BBVA Banco Frances SA .

The bond was originally sold in 2014 for $3.25 billion with a 8.75 percent coupon. At the time the country was locked out of the international capital markets due to a debt default dispute that was resolved last year, soon after President Mauricio Macri came to power in late 2015.

The government had increased the Bonar 2024 bond issuance by $4 billion in early August, inking a $2.7 billion repo deal, and by $4 billion in late June, along with a $1.5 billion repurchase deal. (Reporting by Hernan Nessi; Writing by Luc Cohen)

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