August 4, 2017 / 1:27 PM / a year ago

Argentina increases 2024 dollar bond issuance

BUENOS AIRES, Aug 4 (Reuters) - Argentina increased its dollar-denominated Bonar 2024 sovereign bond issuance by $4 billion on Friday, the second time it has increased the bond in a little over a month.

President Mauricio Macri’s government will sell $2.7 billion of the bond to Nomura Securities Internacional Inc., Banco Bilbao Vizcaya Argentaria, S.A., BBVA Banco Francés S.A., HSBC Bank USA National Association and Citibank NA London Branch, according to a the country’s official Gazette.

The government had announced it was increasing the issuance of the Bonar 2024 to $4 billion on June 30 and a finance ministry spokeswoman said Friday’s announcement was new.

The bond was originally sold in 2014 for $3.25 billion with a 8.75 percent coupon. At the time the country was locked out of the international capital markets due to a debt default that was resolved last year, soon after President Mauricio Macri came to power in late 2015. (Reporting by Hernan Nessi and Caroline Stauffer; Editing by Bernadette Baum)

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