(Adds details on Argentina financing plan, quote from Caputo)
BUENOS AIRES, March 23 Argentine Finance
Minister Luis Caputo said demand for Swiss franc bonds had
exceeded the 400 million Swiss francs ($402.94 million) the
country sold on Thursday, and that the timing of a return to the
global bond markets would depend on the advice of banks.
Argentina plans to sell $10 billion in bonds on the
international market this year. In January it sold $7 billion in
five- and 10-year dollar bonds. Caputo had previously said the
rest would be sold in other currencies, likely Swiss francs,
euros or Japanese yen.
Last month, Caputo said the government planned to issue
between $1.5 billion and $2 billion of Swiss franc bonds in two
to three sales this year.
On Thursday, he said banks had initially advised there would
be demand for between 300 million and 500 million Swiss francs,
though more likely closer to 300 million, so the sale began with
an offer for 300 million in bonds.
"There was demand for more than 400 (million), but we stayed
for now at 400," Caputo said.
He added that the selection of currencies for future bond
sales would also depend on the recommendation of banks.
BNP Paribas, Credit Suisse and UBS were the lead banks on
the sale of the bond, which will mature in October 2020 and has
an interest rate of 3.375 percent.
($1 = 0.9927 Swiss francs)
(Reporting by Luc Cohen; Writing by Caroline Stauffer; Editing
by Diane Craft and Leslie Adler)