Buenos Aires plans €500 million 5.5-year notes with 5½%-5¾% coupon

By Rebecca Melvin

New York, July 13 – The Province of Buenos Aires plans to price €500 million of 5.5-year senior unsecured notes with a coupon of 5½% to 5¾% late Thursday, according to a market source.

The Rule 144A and Regulation S deal (expected ratings B3/B) was being marketed by joint bookrunners and lead managers Deutsche Bank, HSBC and Santander Securities.

Proceeds will be used to fund social, infrastructure and other public investment projects, to strengthen its debt maturity profile and to make debt service payments.

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