Argentina's Banco de Servicios Financieros to sell notes until Aug. 3

By Caroline Salls

Pittsburgh, July 28 - Banco de Servicios Financieros SA has announced the subscription period for its Ps. 40 million of class I 21-month variable-rate notes, according to a news release.

The subscription period began on Wednesday and runs through Aug. 3.

The notes will be sold at par and will accrue interest at the Badlar rate plus a margin to be determined.

The minimum subscription amount is Ps. 400,000. After that, the notes can be purchased in multiples of Ps. 10,000.

Proceeds will be used to refinance debt.

Citicorp Capital Markets SA and BBVA Banco Frances SA are the placement agents, and BBVA is the liquidation agent.

The notes are rated Aa1.ar by Moody's Latin America Calificadora de Riesgo SA and AA(arg) by Fitch Argentina Calificadora de Riesgo SA.

According to the release, the issuance amount can be increased to Ps. 50 million.

The notes are being issued under the bank's Ps. 300 million notes program.

The issuer is a Martinez, Argentina-based bank.

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