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The government finalized yesterday a successful placement of two bonds in pesos, with a simultaneous bid on the local and international markets, due in the years 2023 and 2030. On the occasion an allocation of 10 % was reached to foreign investors.
The instruments placed were BTP-2023 and BTP-2030, for $ 440,000 million and $ 610,000 million, respectively. The allocation fee was 4.12% for BTP-2023, 10 basis points above the interpolated rate based on the benchmark curve and yesterday's secondary market transactions. For the BTP-2030 bond, the allotment rate was 4.85%, or 10 basis points above the interpolated rate based on the benchmark curve and the secondary market transactions of the day before . The allocation to foreign investors of bonds BTP-2023 and BTP-2030 represented respectively 8% and 11% of the total placed
This operation completes the debt plan announced for 2018 through the System of Market Operations. Central Bank Open (SOMA), said the Ministry of Finance.
International Institutional Investors
The adjudication was carried out through an additional book building process (OTC) or book building, similar to the processes completed in January and June 2017 , with a book of orders to which local and international investors were able to participate simultaneously, in accordance with Rule 144A ("Rule 144A") and Rule S ("Rule S"), issued under the United States 1933 Securities of America
The portion allocated to foreign investors will initially be maintained in the Euroclear account. Bank S.A./N.V. Central Securities Depository, and may be traded on that platform.
On this occasion, the coordinating banks of the transaction were HSBC Securities (USA) Inc .; Itau BBA Securities Inc. and Scotia Capital (USA) Inc.
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