Local Currency Deal of the Year: Province of Buenos Aires

Local Currency Deal of the Year: Province of Buenos Aires

Growing its local currency debt offering has long been a priority for our next winner.

In April, it issued 30 billion Argentine pesos ($1.49bn) in Euroclear paper in a deal that drew healthy investor demand. The sale received orders of more than 34 billion Argentine pesos orders the trade had initially been targeted between 10 billion Argentine pesos and 22 billion Argentine pesos.

While local investors made up the majority of the demand, international investors snapped up 9 billion Argentine peosos in one of the largest local currency orderbooks for an Argentina transaction.

The successful sale helped it to continue to build out its peso yield curve and to balance the currency structure of its debt.

Please put your hands together for the Province of Buenos Aires!