By Rebecca Melvin
New York, Dec. 6 – Argentina’s Province of La Rioja priced a $100 million add-on to its 9¾% green bonds due Feb. 24, 2025 (//BB-) on Wednesday at 110 to yield 7.539%, according to a market source.
Pricing came below initial talk in the high 7% area. The original deal for $200 million of notes priced in February.
UBS Investment Bank was the bookrunner for the notes, which are listed on the Luxembourg Stock Exchange.
La Rioja province is located in the northwestern Argentina.
| Issuer: | Province of La Rioja
|
| Amount: | $100 million
|
| Maturity: | Feb. 24, 2025
|
| Securities: | Green bonds
|
| Bookrunner: | UBS Investment Bank
|
| Coupon: | 9¾%
|
| Price: | 110
|
| Yield: | 7.539%
|
| Trade date: | Dec. 6
|
| Rating: | Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | High 7% area yield
|
| Total issue size: | $300 million, including $200 million priced in February 2017
|
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