Argentina's Banco de Servicios y Transacciones to sell Ps. 50 million

By Caroline Salls

Pittsburgh, March 16 - Banco de Servicios y Transacciones SA plans to issue up to Ps. 50 million of 84-month class 1 variable-rate subordinated notes under its $500 million global notes program at par, according to a news release.

Interest will accrue at the Badlar rate plus 700 basis points.

The minimum subscription amount will be Ps. 400,000. The notes will be sold in Ps. 1 increments thereafter.

Proceeds will be used to restructure debt.

The notes were rated A1.ar by Moody's Latin America Calificadora de Riesgo SA and A- by Evaluadora Latinoamericana SA Calificadora de Riesgo.

The issuer is a Buenos Aires-based financial services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.