July 6, 2018 / 12:49 PM / a year ago

Argentina says to issue up to $1.5 bln in Treasury notes

BUENOS AIRES, July 6 (Reuters) - Argentina will issue up to $1.5 billion in dollar-denominated Treasury notes maturing in July 2019, the Treasury Ministry said in the country’s official gazette on Friday.

The terms of the notes will be the same as those issued in an auction on Thursday, which raised $422 million at a nominal annual interest rate of 5.5 percent. More than half of that went to investors swapping short-term central bank notes known as Lebacs.

Argentina has pledged to reduce the outstanding stock of Lebacs, which currently stands at around $37 billion, as part of a $50 billion stand-by financing arrangement signed with the International Monetary Fund last month. (Reporting by Hernan Nessi Writing by Luc Cohen)

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