PSA Finance Argentina Compania Financiera S.A. (“PSA Finance Argentina“) (Aa2.ar/NR/AA(arg)), which is 50/50 owned by Banque PSA Finance and BBVA Banco Francés, raised AR$ 150 million (approximately €20 million) in two tranches on 19 July 2013 :
- Variable series: AR$ 110 million on a 19,5 month average maturity with a floating private BADLAR rate plus 4% margin.
- Fixed series: AR$ 40 million with a fixed rate of 20,98% on a 9 month maturity.
This transaction, with a book oversubscribed 1,42 times, is the eighth undertaken in the Argentine bond market and the most important achieved by PSA Finance Argentina since 2010. It illustrates the success of the strategy of Banque PSA Finance to diversify sources of financing.
