Banco Macro Heard Going Perpetual

Banco Macro is rumored to be lining up the first perpetual bond from Argentina, a $150 million perp non-call five. Underwriters are apparently Credit Suisse and UBS. Bankers assumed to be on the deal declined to comment. Macro raised $307 million in March with the first IPO from an Argentine company since 1997. Joint bookrunners were Raymond James and UBS. Perpetuals have been very popular with Brazilian corporates, and there have been some Mexican issues too. It will be interesting to see what appetite the Asian retail investor base has for an Argentine name.