Chubut Pricing Carries into This Week

Argentina’s Chubut province is expected to finish pricing a domestic bond sale of at least $50m Tuesday, say people familiar with the deal. The province could offer as much as $380m of the 2019 dollar-linked notes, which had been scheduled to price Friday. With the province still closing the books late on Friday and Monday a national holiday, the bonds, guaranteed by taxes the province receives from oil exports, are set to price Tuesday. Proceeds from the sale will be used for infrastructure funding, including for community centers, schools, roads and hospitals. Puente is the lead bookrunner, with co-bookrunners BNP Paribas and Banco del Chubut. The province last issued dollar-linked bonds in 2010, and has previously issued debt locally and abroad with hydrocarbon guarantees.