Banco Macro Plots $200m Bond Sale (1)

Extending the LatAm junk bond spree, Argentina’s Banco Macro plans to sell up to $200m in 2014 unsubordinated bonds. The bonds will price after the close of a presentation period that started October 19 and runs to the end of the month. The debt will be issued under the bank’s medium-term notes program, which has been recently increased to $700m from $400m. Proceeds will go to extending the loan portfolio and for general corporate purposes. Fitch expects to assign a B+ rating, while Moody’s has given it a B2. Citi and UBS are leading.