*** New Issue : PROVINCE OF BUENOS AIRES (B3/B-) $ 3yr and 10yr ***
Gestern, 13:43Betreff:
AW: Buenos Aires, Province#1585
Ich stelle es auch mal hier rein:
• Structure 3yr : Bullet • Structure 10yr : 10yr avg life (3 equal amortizations)• Guidance 3yr : 6.00-6.25%• Guidance 10yr : 8.00-8.25%*** New Issue : PROVINCE OF BUENOS AIRES (B3/B-) $ 3yr and 10yr ***Issuer: The Province of Buenos Aires (BBG Ticker: BUENOS)Exp. Ratings: B3 (Stable) / B- (Stable) (Moody’s / S&P)Ranking: Senior UnsecuredFormat: 144A / Regulation SSize: Benchmark SizeCurrency: USDUse of Proceeds: Funding of social, infrastructure and other publicinvestment projects and improve the debt maturity profileof the ProvinceTenor: 3yr Bullet Fixed | 10yr Soft-Bullet FixedMaturity: 2019 | 2027 (10-year Average Life)IPTSs: Low 6s | Low 8sAmortizations: Bullet | 3 equal amortizations in 2025,2026, and 2027Joint Bookrunners: Citi (B&D) / HSBC / SantanderLocal Co-Manager: Banco de la Provincia de Buenos AiresClearing: Euroclear / ClearstreamListing: Luxembourg / Euro MTF / Merval / MAEGoverning Law: New YorkDenominations: $150k x1kSettlement: T+5 (June 15, 2016)Marketing: eRed | www.netroadshow.com;Passcode: Sand87 (non-case sensitive)Timing: Today’s businessComparables$ Prov Buenos Aires 10.875% 01/2021 113.75% / ytm 6.50%$ Prov Buenos Aires 9.125% 03/2024 108.00% / ytm 7.55%$ Prov Buenos Aires 9.625% 04/2028 113.50% / ytm 7.75%
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