BarCap, Citi, BTG Clinch City of BA Mandate

Barclays, Citi and Brazilian shop BTG have won the mandate to bring the City of Buenos Aires to the international bond markets for up to $500m, market sources say. Bankers had been waiting for a decision ever since the borrower sent out RFPs to about 13 institutions earlier this year. The City was last in the market in April 2010 through Credit Suisse which priced a $475m 5-year at par to yield 12.5%. This comes after the Province of Buenos Aires retapped its 11.75% 2015s for another $250m just last week, pricing it at 102.854 to yield 10.875%.