Newsan to tap local bond market

Newsan to tap local bond market

Bonds Debt Fixed Income Capital Markets Argentina

Argentine food and home appliances company Grupo Newsan said Friday it will offer up to ARS6 billion ($50 million) in one-year notes in the local market on June 9, using a portion of the proceeds to pay back a bond falling due later this month. The company will start the offer at ARS750 million and increase it based on demand, according to a securities filing. The peso-denominated notes will pay a margin over Badlar, a local reference rate now at 46.69%. The margin will be determined during the

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