New Issue: Argentina’s IRSA sells $65.75 million equivalent of notes due 2021, 2022

By Rebecca Melvin

New York, May 20 – IRSA Inversiones y Representaciones SA priced $65.75 million equivalent of three series of notes via public auction, according to a 6-K filing with the Securities and Exchange Commission.

The company priced Ps. 353,991,881 of floating-rate notes due Feb. 21, 2021 at par to yield Badlar plus 600 basis points.

It also issued $51,352,149 of 7% notes due May 21, 2021 at 102 to yield 5.03%, and $9,175,948 of 9% notes at 103 to yield 7.56%.

The proceeds will be used to refinance short-term debt.

IRSA Inversiones y Representaciones is a real estate company based in Buenos Aires.

Issuers:	IRSA Inversiones y Representaciones SA
Issue:	Notes
Announcement date:	May 20
Issue date:	May 21
Series III floaters
Amount:	Ps. 353,991,881
Maturity:	Feb. 21, 2021
Price:	Par
Yield:	Badlar plus 600 bps
Series IV notes
Amount:	$51,352,149
Maturity:	May 21, 2021
Coupon:	7%
Price:	102
Yield:	5.03%
Series V notes
Amount:	$9,175,948
Maturity:	May 21, 2022
Coupon:	9%
Price:	103
Yield:	7.56%

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