Banco Hipotecario Launches Tender Offer

Argentina’s Banco Hipotecario has offered to buy back up to $112m in foreign bonds. The bank will pay $895 per $1,000 tendered for up to $56m in 2013 dollar notes and EUR855 per EUR1,000 tendered for up to $56m equivalent in 2013 Euro notes, in an offer expiring February 27. The bank felt it was a good time to take out debt at lower levels, an official close to the deal tells LatinFinance. Deutsche Bank is dealer manager.