City of Buenos Aires plans local bond

City of Buenos Aires plans local bond

Bonds

The City of Buenos Aires is planning to issue a $85m dual-tranche bond in the local market, Moody’s said on Wednesday, as it assigned a Caa1 local currency rating to the proposed transaction. The bond will include a two-year, Argentine-peso denominated tranche that is set to have a fixed interest rate. The second, 27-month tranche will be denominated in US dollars but payable in pesos, Moody’s said. The notes to be issued constitute direct, unconditional, unsecured and unsubordinated obligations

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