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Argentina says clinches 18-month repo deal worth $6 bln with banks
January 12, 2017 / 9:10 PM / 10 months ago

Argentina says clinches 18-month repo deal worth $6 bln with banks

BUENOS AIRES, Jan 12 (Reuters) - Argentina clinched an 18-month financing deal worth $6 billion with a group of six banks on Thursday, Finance Minister Luis Caputo told reporters, adding that the government plans to tap the international bond market for $10 billion in 2017.

Argentina expects to sell $7 billion worth of bonds in U.S. dollars and $3 billion in other currencies, Caputo told a news conference. He did not give specifics of expected bond maturities or interest rates.

The deal with the banks along with nearly $4 billion in planned multilateral borrowing from institutions including the World Bank and Inter-American Development Bank should reduce the country’s need to go to the international capital markets.

“It’s very positive news for us,” Caputo said on the bank financing agreement, which he said would be backed by the country’s Bonar 24 bonds. (Reporting by Luc Cohen; Editing by Lisa Shumaker)

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