Friday, January 29, 2016

Central Bank seals $5 bln in bank loans

Argentina's central bank today sealed a deal for a $5 billion loan from international private banks to bolster its foreign reserves, two sources at banks involved in the deal told Reuters.

The interest rate on the loan will be the Libor rate plus 6.15 points, one of the sources said, who asked not to be identified.

"The banks are transferring the money right now," the source said.

The banks HSBC, JPMorgan Chase & Co. and Santander will contribute $1 billion each, while Deutsche Bank, BBVA, Citibank and UBS will lend 500 million each, the source said.