Cresud reaps demand for bonds

Cresud reaps demand for bonds

Bonds Debt Fixed Income Capital Markets Argentina

Cresud, a leading agribusiness in Argentina, said Thursday that it raised $70.8 million in the sale of two series of bonds in the local market, more than twice the minimum it had sought for financing its activities and refinancing debts. The company sold ARS4.1 billion ($19.9 million) worth of Argentine peso-denominated notes with an 18-month tenor, according to a securities filing. The bonds were sold at a price to pay Badlar, a local reference rate now at 72%, plus 300 basis points. Another $5

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