Neuquen Looks for Bond

Argentina’s Neuquen province is out with an RFP for a new bond, according to DCM bankers. The would-be issuer is expected to seek about $200m, perhaps using a similar ABS structure to the Chubut province. Pitches have gone out to a very wide group of banks, one of which says they are due this week. Chubut raised $150m in 2020 bonds in July at a 9.75% yield, through a securitization of oil and gas royalties. Neuquen’s last bond was a $125m 7-year oil royalty ABS in 2007, according to Dealogic.