Banco Galicia trims local debt deal

Banco Galicia trims local debt deal

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Argentina Latin America

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%

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