The government of Santa Fe, Argentina, issued the SF34 bond for $800 million on a 9-year term with an 8.1% interest rate on Thursday, December 4th. This operation marks a milestone for the province's access to international markets. The issuance, carried out on Wall Street, positions Santa Fe among the country's most reliable provinces, as highlighted by Economy Minister Pablo Olivares, who led the official mission in New York.
"It's a historic day for Santa Fe," Olivares emphasized in a statement obtained by Noticias Argentinas. He noted that the issuance was made possible by the province's fiscal solvency, low debt, and orderly, transparent management. Olivares also stressed that Santa Fe, along with the Autonomous City of Buenos Aires, is one of the two subnational governments that has never restructured its debt.
Governor Maximiliano Pullaro stated that the funds will be allocated to strategic projects in energy, productive infrastructure, roads, security, and social development, with a direct impact on the competitiveness and growth of Santa Fe's economy.
"Priority projects include major gas pipelines, key road improvements for the smooth flow of goods, social infrastructure projects, and new investments in public security such as police stations, patrol vehicles, equipment, and prison improvements," the statement reads.
The SF34 bond was issued following a series of international missions where the province presented its structural strengths and track record of compliance. With this placement, the government of Santa Fe consolidates its sustainable financing strategy, focused on investments that boost the territory's productive development. "Foreign investors have shown their confidence in the province," the official affirmed.
The operation received offers totaling $1.8 billion from more than 111 major international investors and over 1,200 retail investors. Of that total, $350 million came from more than 800 Argentine investors, which was considered a strong sign of local support.
