Banco Galicia sells short-term debt

Banco Galicia sells short-term debt

Bonds Debt Capital Markets Fixed Income Argentina

Argentina's Banco Galicia said it raised ARS4.2 billion ($68.6 million) from the sale of six-month notes in the local market, a move seen as taking advantage of excess peso liquidity. The country's fourth largest bank in terms of deposits said the notes pay 400 basis points over Badlar, the rate that commercial banks pay for 30- to 35-day deposits of more than ARS1 million. Badlar was 45.13% on Wednesday, according to the central bank. Banco Galicia said it received 106 offers for the notes for

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