June 29, 2012
Argentina’s Arcor has cancelled plans to reopen the 2017 bonds it sold in 2
Argentina’s Arcor has cancelled plans to reopen the 2017 bonds it sold in 2010, it says. The B1/B+ food products maker known for its candy had been looking to add up to $100m through the retap, but has decided not to go forward due to uncertainty in the international markets. It was looking for funds to refinance short term debt. JPMorgan and Santander managed the original 2010 sale, which raised $200m at a 7.25% yield.