BANCO MACRO S.A. Buenos Aires, August 28, 2015. The Government of the Province of Neuquén successfully placed Provincial Treasury Bonds (Letras del Tesoro Provincial) in the amount of ARS$ 550 million in the Argentine financial market.
In the frame of the Treasury Bonds Issue Program Issued by Provincial Decree No. 203/15 and extended by Executive Decrees Nos. 766/15 and 1703/15 of the Government of the Province of Neuquén, the Ministry of Economy and Public Works launched by means of Resolution No. 281/15 a new tender program for an aggregate amount of ARS$ 300 million extendable up to the outstanding balance of the program of ARS$895,949,000.
The payment of the bonds is executed by means of an irrevocable agency conferred by the Province to the Financial Agent of the Province to withhold the necessary amounts from the funds stemming from the Federal Taxes Co-Sharing Program (Coparticipación Federal de Impuestos). Series III Class 1 Bonds are denominated in Argentine pesos and mature 91 days from the date of issue thereof.
Bids were received for an amount in excess of ARS$ 580 million, through Mercado Abierto Electrónico S.A., the amount of ARS$564,687,000 million being awarded, at a cutoff rate of 28.50%.
The arrangers and placement agents were Banco Provincia del Neuquén SA, Banco Galicia y Buenos Aires SA and Banco Macro SA.
Banco Galicia 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 425 customer contact points through its bank branches and electronic bank centers and more than 392 attention centers pertaining to regional credit card companies and Compañía Financiera Argentina.
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