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Argentina clinches $6B loan deal with 6 banks

By on January 13, 2017

BUENOS AIRES — Argentina’s government says it has struck a deal to borrow $6 billion from a group of six banks.

Finance Minister Luis Caputo said Thursday that the 18-month financing agreement will reduce the risk of uncertainty and secure a portion of the country’s planned $20 billion financing debt for 2017.

The loan deal reduces Argentina’s need to tap international credit markets at higher interest rates this year.

Caputo says Argentina hopes to issue about $5 billion in dollar-denominated bonds and $2 billion in peso-denominated bonds.

The banks in the deal are BBVA Frances, Citibank, Deutsche Bank, HSBC, J.P. Morgan Chase and Santander.

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