Arcor comes up short in bond deal

Arcor comes up short in bond deal

Bonds Debt Capital Markets Economy & Policy Fixed Income Argentina

Argentine food processing company Arcor said it raised ARS1.7 billion ($28.4 million) in a sale of six-month notes, becoming the latest company to come up short in the local bond market as investors wait for more signs of what could happen with the economy under a new government. Arcor had set out to raise up to ARS2 billion in the deal to refinance bank debt, setting the minimum amount at ARS500 million. The bonds pay Badlar plus 424 basis points. Badlar, or what commercial banks pay for 30- to

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