Buenos Aires, March 3 (NA) – Banco Ciudad today successfully placed Negotiable Obligations, generating significant interest among local investors. It was a placement of titles in UVAs for a total of $99,418 million, with a high demand close to $157,000 million. Additionally, the interest rates obtained for the placed volume were reduced, in a complex international context compared to recent issuances in the Argentine financial system. The entity, led by President Guillermo Laje, once again diversifies its funding sources through Negotiable Obligations, after having innovated in 2020 with the also successful first issuance of a social bond in Argentina. Laje highlighted that “the new funds will be mainly destined to increase the financing of mortgage loans for families”. In turn, he pointed out that “the interest in these instruments confirms the market's confidence in our entity, a leading institution in the financial system”, as compiled by the Argentine News Agency. The issuance counted, among the main investors, with banks and insurance companies, investment funds, and orders from individuals. The ON has a yield of 7.50% plus UVAs for a 24-month term, and 7.95% plus UVAs for a 36-month term, obtaining a rate that is below that of financial assets with similar characteristics and terms. In particular, $77,777 million was awarded for Class 23, for 24 months. Similarly, $21,640 million was placed for Class 24, for a 36-month term. The Debt Titles obtained the “AA+.ar” Rating from Moody's. In addition to Banco Ciudad itself, the entities that acted in the placement were: Santander, Galicia, and BST banks, as well as Macro Securities, Balanz, Puente, and One618. Banco Ciudad, in this way, increases and diversifies its funding sources through the Capital Market, which allows it to deepen its social and development role.
