Argentina’s Jujuy Province places $210 million of 8 5/8% green bonds

By Caroline Salls

Pittsburgh, Sept. 14 – Jujuy Province has placed $210 million of five-year 8 5/8% green bonds, the first of their kind placed an Argentine government body, according to a news release.

Jujuy Gov. Gerardo Morales said the province received offers for $744 million of the green bonds, 3.4 times more than the $210 million requested.

“The characteristics of the bond, linked to the solar park and the strategy of development of the province in terms of renewable energies and lithium, were the key to success,” Jujuy said in the release.

“We have stressed that this bond is not to finance current deficits or expenses, but to accompany the productive growth of Jujuy.”

Jujuy said it offers advantages for global investors interested in the care of the planet, as it has the potential to generate renewable energy.

Specifically, Jujuy said Cauchari Solar in Puna is an example of the commitments of Argentina to reduce the country’s carbon emissions.

The bond was offered at a road show to investors in 130 different countries.

Jujuy said investors come from the United States, Brazil, Uruguay, Chile, England, Switzerland, Germany, Spain, Luxembourg, Italy, China, Taiwan and Argentina.

Governor Morales met in New York with the Secretary of the Treasury and Argentina’s Development Bank, as well as representatives of Santander and BCP and ratings agency BCP Securities to announce the bond placement.

Export-Import Bank of China is also providing financing from the Cauchari project.

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