Argentines Test Local DCM

Argentines Test Local DCM

Loans

Aluminum producer Aluar has placed $50m in 2014 bonds at Libor plus 300bp on Argentina’s domestic market, according to brokers managing the sale. The bonds feature an 18-month grace period, and a mechanism to adjust the coupon at each interest rate period based on the price of aluminum, with investors guaranteed minimum all-in return of 6.5%. Proceeds from the sale, rated A+/Aa3 on a national scale, will fund investments and refinance existing debt. Citi and SBS managed the transaction, the firs

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