Banco Hipotecario looks to reacquire 2020s

Banco Hipotecario looks to reacquire 2020s

Bonds Corporate & Sovereign Strategy Debt Capital Markets Fixed Income Argentina

Argentina's Banco Hipotecario has offered to buy back $75m in 9.75% 2020 notes, including a $30 premium for notes tendered by the early deadline. The bank said it will pay $995 for every $1,000 in notes tendered by March 26. After that, it will pay $965m for every $1,000 until April 9. Banco Hipotecario has $334m in outstanding 2020 notes. It sold the five-year bonds in November 2015 and reopened them for $150m in May 2016. Itaú BBA and JPMorgan are the dealer managers on the buyback. Itaú BB

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