Argentine Lender Places Local RMBS

Banco Hipotecario has sold $136m-equivalent in 2 tranches of mortgage-backed securities in the domestic market, says a bank official. A ARP193m ($50m) piece priced at the Badlar rate minus 240bp, and a $86m dollar-denominated tranche came at 2%. Both have a final maturity of 16 years and an average life of 8 years. Proceeds will support the Argentine lender’s mortgage origination efforts. Banco de Valores and Banco Hipotecaio coordinated the sale, rated A+ on a national scale, which was structured by Banco de Credito y Securitization.