October 12, 2017 / 12:18 AM / 9 months ago

Argentina sells $2.1 bln in Treasury notes, peso bonds

BUENOS AIRES, Oct 11 (Reuters) - Argentina sold $800 million in Treasury notes and 22.54 billion pesos ($1.30 billion) in five-year, peso-denominated bonds, in part to refinance maturing debt, the Finance Ministry said in a statement on Wednesday.

The government sold $400 million in 210-day Treasury notes and $400 million in 364-day Treasury notes, for which it received $1.969 billion and $1 billion in orders, respectively. Those sales served in part to refinance $750 million in maturing notes.

The ministry said it received 32.3 billion pesos in orders for the five-year bonds, which was sold at a variable interest rate of 200 basis points above the Badlar interest rate for deposits at private banks. The Badlar rate was 22 percent on Wednesday, according to Argentina’s central bank.

Those sales served in part to refinance 10 billion pesos in maturing bonds at a rate of 300 points above Badlar.

The ministry said it declared an attempted sale of 2023 Treasury bonds at a fixed interest rate of 16 percent void after receiving just 3.7 billion pesos in orders, “reflecting in this case a greater preference from depositors for the instrument offered at a variable rate.”

Inflation in Argentina is seen hitting 22 percent in 2017 and 15.8 percent in 2018. ($1 = 17.4000 Argentine pesos) (Reporting by Maximiliano Rizzi, writing by Luc Cohen, editing by G Crosse)

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