February 10, 2017 / 6:58 PM / 6 months ago

Argentina to issue local currency debt worth up to $4 billion

BUENOS AIRES, Feb 10 (Reuters) - Argentina will issue up to $4 billion in debt under local law next week, the Finance Ministry said on Friday, with a mix of short-term treasury letters in U.S. dollars and longer-term treasury bonds in pesos.

The sovereign will accept offers between Feb. 15 and Feb. 16.

Argentina will sell two dollar-denominated treasury letters, one maturing on May 26, 2017 and the other maturing on Aug. 25, 2017. The country will sell up to $750 million of each bond.

The three fixed-rate, peso-denominated treasury bonds, each initially issued in October 2016, include a five-year bond yielding 18.2 percent, a seven-year bond yielding 16 percent, and a 10-year bond yielding 15.5 percent. The country will sell up to 12.5 billion pesos ($804.89 million) in each bond.

Last month, Finance Minister Luis Caputo said Argentina planned to issue $14 billion in local currency bonds in 2017, along with $10 billion in foreign currency bonds.

$1 = 15.5300 Argentine pesos Reporting by Eliana Raszewski and Luc Cohen; Editing by David Gregorio

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