Banco Macro Confirms Bond Sale

Argentina’s Banco Macro Monday confirmed it is planning to sell up to $150 million of non-cumulative junior subordinated debt securities before the end of the year. The bonds will be issued under the Argentine Tier One. Underwriters are apparently Credit Suisse and UBS. The Bank intends to use the money raised for loans. Macro raised $307 million in March with the first IPO from an Argentine company since 1997.