Tarjeta Naranja nabs local funds

Tarjeta Naranja nabs local funds

Bonds Capital Markets Loans Debt Fixed Income Argentina

Argentine credit card issuer Tarjeta Naranja said Monday that it raised ARS8.73 billion ($78.4 million) in a two-part deal in the local bond market to refinance debt and add to working capital, falling short of the $100 million maximum. Tarjeta Naranja issued ARS4.5 billion in new one-year notes at the Badlar rate plus 3.75% and another ARS4.2 billion in two-year notes at Badlar plus 5.25%, according to a securities filing. Badlar is currently 41.81%. The company said last week that it planned t

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