Banco Macro - Investor Relations Mobile

Banco Macro and Banco Galicia announce another successful placement of the Province of Neuquén Treasury Bonds


Banco Macro and Banco Galicia announce another successful placement of the Province of Neuquén Treasury Bonds

Buenos Aires, October 5, 2015. The Government of the Province of Neuquén made a successfully placement of Provincial Treasury Bonds (Letras del Tesoro Provincial) in the amount of ARS$ 789 million in the Argentine financial market.

In the frame of the Treasury Bonds Issue Program Issued by Provincial Decree No. 203/15 and extended by Executive Decrees Nos. 766/15 and 1703/15 of the Government of the Province of Neuquén, the Ministry of Economy and Public Works launched by means of Resolution No. 366/15 a new tender program for the placement of a new series of bonds (letras) under the Program for an aggregate amount of up to ARS$ 789,000,000.

This Provincial Bond tender had a large demand by investors. Offers were received for an excess of AR$ 1,200 million through Mercado Abierto Electrónico S.A.

Specifically, Class 1 Series IV for a 59 day-term received purchase orders for an amount of AR$621,199,000, the amount of AR$440,000,000 was awarded (the apportionment rate being 39.6071%), at a cutoff rate of 27.90%; and Class 2 Series IV, for a 80-day term received purchase orders for an amount of AR$582,718,000, the amount of AR$349,000,000 was awarded (the apportionment rate being 56.0154%) at a cutoff rate of 28.45%.

The payment of the bonds is guaranteed by (i) the collateral assignment of the proceeds from the Federal Taxes Co-Sharing Program (Coparticipación Federal de Impuestos) and (ii) resources of the Province stemming from certain provincial taxes (Turnover Tax, Stamp Tax and Land Tax). Series IV Bonds are denominated in Argentine pesos and both principal and interest thereon shall be fully paid on the maturity date.

The arrangers and placement agents were Banco Provincia del Neuquén SA, Banco Galicia y Buenos Aires SA and Banco Macro SA.

Puente Hnos S.A. acted as Co-placement agent.

Banco Galicia is one of the principal domestic capital private banks in the Argentine financial system. Through its traditional and alternative distribution channels it markets a broad range of financial products and services for individuals and corporations. The Bank operates in one of the largest and diversified distribution networks of the Argentine private financial sector, offering more than 425 customer contact points through its bank branches and electronic bank centers and more than 392 attention centers pertaining to regional credit card companies and Compañía Financiera Argentina.


IR Contact

Phone: (5411) 5222 6682
E-mail: investorelations@macro.com.ar

Click here to see the web version