January 19, 2016 / 12:37 PM / 3 years ago

Argentina says to issue up to $5 bln Bonar 2020 bonds

BUENOS AIRES, Jan 19 (Reuters) - Argentina will seek to issue up to $5 billion worth of dollar-denominated, local law Bonar 2020 bonds in one or several auctions, the government said in its gazette on Tuesday.

The South American country had already said it would issue $1 billion of the Bonar 2020 notes, that have an 8 percent coupon, on Jan. 20. In the light of this announcement, it could increase the amount it issues on Wednesday.

The government also said it would offer holders of dollar-denominated 2017 bonds the opportunity to swap out for the new 2020 issue, a measure that would ease near-term financial pressure for the economy struggling with a high fiscal deficit.

The 2017 note carries a 7 percent coupon. (Reporting by Sarah Marsh)

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