November 20, 2020 |
Argentina's Banco Galicia said Thursday that it sold ARS1.6 billion ($19.8 million) worth of peso-denominated notes, less than the maximum of ARS5 billion ($62.3 million) it had sought in an auction on Wednesday.
Banco Galicia, the country's fourth largest bank in terms of deposits, said it received ARS2.4 billion in bids for the nine-month notes in a deal that it led itself, according to a securities filing.
The notes pay 225 basis points over Badlar, a local reference rate that stands at 33.9%
Argentine lender raises less than expected with $20 mln in nine-month notes