June 30, 2020 |
San Miguel, the biggest lemon grower in Argentina, sold $40 million in dollar-linked bonds in an offer that drew nearly nine times the original minimum amount on offer, helping to stretch out maturities and reduce interest rates.
The Famaillá, Tucumán-based company received $89.4 million in offers for the 18-month notes, surpassing the $10 million minimum, according to a securities filing late on Friday.
The bullet bonds pay 1.48% interest, less than the 8.5% interest for the 10-month, dollar-li
Argentine lemon grower swaps debt for dollar-linked notes at a lower rate