BA Eyes Second Tap

After a quiet $50m placement in December, the City of Buenos Aires is preparing to meet bond investors with the aim of adding to its international borrowing. Meetings begin Friday in London and will hit the US next week, with a transaction possibly to follow. The Reg S private placement just before Christmas of 12.5% coupon 2014 amortizing notes was far less than the $250m the B2/B minus issuer had planned to raise, so a return tap this year for up to $200m had been expected. Credit Suisse, manger of the December sale, is running the new show. The federal government rejected an attempt to raise $500m in 2008 through Barclays, Citi, and Banco Macro, and the city finally came to the markets last year after negotiating a change to the law that prohibits it from issuing debt internationally without federal approval.