Friday, July 15, 2016 Issuers jostle for attention in crowded marketTraders are seen working at the Buenos Aires stock market in a file photo. In contrast, a seven-year non-call four from Petrobras Argentina proved popular among accounts who liked the US$500 million benchmark size. At that level, Petrobras Argentina is pricing near flat to YPF’s curve where, according to Thomson Reuters data, the 2024s and 2025s are trading at around 7.20 percent and 7.55 percent. Banco Galicia, rated B3/B-, tested the waters with a US$250m 10-year non-call five — the country's first-ever Basel III compliant, Tier 2 bond. Proceeds from yesterday’s bond will help Petrobras Argentina fund a tender for existing 2017s, whose change of control clause will be triggered on the back of Pampa Energia's acquisition.

Source: Bueno Aires Herald July 15, 2016 05:58 UTC