New Issue: Buenos Aires sells $475 million 12-year bonds to yield 9¾%

By Reshmi Basu

New York, Oct. 24 - The Argentine Province of Buenos Aires (B3/B+) sold a $475 million offering of 12-year bonds at 97.417 with a 9 3/8% coupon to yield 9¾%, according to a market source.

Merrill Lynch was the bookrunner for the Rule 144A and Regulation S sale.

Issuer:	Argentine Province of Buenos Aires
Amount:	$475 million
Issue:	Government bonds
Maturity:	Sept. 14, 2018
Coupon:	9 3/8%
Issue price:	97.417
Yield:	9¾%
Spread:	Treasuries plus 492.4 bps
Pricing date:	Oct. 24
Settlement date:	Oct. 31
Bookrunner:	Merrill Lynch
Issuer ratings:	Moody's: B3
	Standard & Poor's: B+
Distribution:	Rule 144A and Regulation S

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