March 28, 2018 / 7:42 PM / a year ago

Argentina agrees to $1 billion, 18-month repo deal with HSBC - source

A man walks in downtown Buenos Aires, Argentina, March 27, 2018. REUTERS/Marcos Brindicci

BUENOS AIRES (Reuters) - Argentina has agreed to a $1 billion (£0.7 billion), 18-month debt repurchase agreement with bank HSBC, a source in the Finance Ministry said on Wednesday.

The deal was part of the South American country’s plan to meet between $2 billion to $3 billion of its 2018 financing needs with repo deals. The source said Argentina still had no plans to tap foreign bond markets again this year, affirming Finance Minister Luis Caputo’s earlier statements to a local newspaper.

Reporting by Buenos Aires newsroom; writing by Luc Cohen, editing by G Crosse

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