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Banco Macro and Banco Galicia accompanied the Province of Neuquén in another successful international placement

Banco Macro and Banco Galicia accompanied the Province of Neuquén in another successful international placement

Buenos Aires, May 5, 2016. The Government of the Province of Neuquén has successfully placed today a US$250 million bond in the international financial market.
Offers were received in excess of 1,500 million dollars, at a cutoff rate of 8.625%. The 12 year bond matures in 2028, with 4 year grace period for the principal. The issue amount may involve an aggregate of 400 million dollars if a debt exchange tranche is finally completed.

The bond is secured by oil and gas royalty guarantees. Interest is payable on a quarterly basis. Amortization is made in 33 quarterly installments of 3%, the last one being of 4%, as from the fourth year.

The local placement agents were Banco Macro S.A. and Banco Galicia and the international ones were JP Morgan and Deutsche Bank.
This placement evidences the Bank’s strong commitment towards the growth and development of Argentina, and specifically, the Province of Neuquén.

Milagro Medrano
Institutional Relations Manager

Banco Galicia, founded in 1905, is one of the principal domestic capital private banks in the Argentine financial system. Through its traditional and alternative distribution channels it markets a broad range of financial products and services for individuals and corporations. The Bank operates in one of the largest and diversified distribution networks of the Argentine private financial sector, offering more than 430 customer contact points through its bank branches and electronic bank centers and more than 390 attention centers pertaining to regional credit card companies and Compañía Financiera Argentina. Its clients have access to telephone banking services and digital attention channels such as Online and Mobile Banking. Banco Galicia, with a strong presence in the main social networks, is the first and only Argentine bank to launch Facebook Banking, were users may operate Online Banking without leaving their Facebook account. Through @GaliciaResponde in Twitter, clients receive advice in real time. Banco Galicia implements a sustainable management in the belief that business can only be conducted when social and environmental impact is taken into account. This responsibility is based in principles and goals that guide the conduct of all the Bank’s stakeholders, and reflect in policies, practices and programs actually carried out.

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