Banco Hipotecario Places $23 Million MBS

Argentine Banco Hipotecario placed $23 million worth of mortgage-backed securities (MBS) in the local market, after receiving offers worth $61.7 million. The paper was bought mainly by pension funds, who took up 37%, followed by retail investors with 20%. The certificates will yield 2.5% above the CER inflation rate. The issue was arranged by Banco Hipotecario, Bank of America, Banco Ciudad and Banco de Valores.