April 20, 2018 / 12:53 PM / a year ago

Argentina reaches debt repo deal for up to $1 bln with Credit Suisse

BUENOS AIRES, April 20 (Reuters) - Argentina approved the sale and future repurchase of up to 1 billion Swiss francs ($1.03 billion) in bonds with Credit Suisse, the government said on Friday in its official gazette.

The U.S.-dollar denominated bonds mature in 2025 and have an interest rate of 5.75 percent. The move comes after the South American country reached a $1 billion repurchase deal with HSBC in late March.

The government has said it plans to raise between $2 billion and $3 billion this year through repurchase deals. Finance Minister Luis Caputo has said Argentina does not plan to sell new debt in the international markets in 2018 after raising $9 billion through dollar bonds in January. ($1 = 0.9720 Swiss francs) (Reporting by Hernan Nessi Writing by Luc Cohen; Editing by David Gregorio)

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