The Córdoba government placed debt on the external market for US$ 800 million over 9 years at an annual rate of 8.6%. Initially, the intention was to raise US$ 500 million, but the favorable financial climate resulting from the decrease in Argentina's Country Risk led the Martín Llaryora administration to accept the maximum for the operation. The Córdoba state bond issue, which was completed in the last few hours, received offers of US$ 1.6 billion, double the authorized ceiling. 'This operation allows for extending maturities and significantly smoothing the profile of financial commitments assumed by the Province,' stated the Government in an official communiqué processed by the Argentine News Agency. The bonds, issued under New York State law, 'will be amortized in 3 installments in the years 2033, 2034, and 2035, and bear an annual coupon of 8.6%, in line with a strategy aimed at optimizing the cost and term of the provincial financing.' This data is encouraging for the National State's intention to place debt on the international market.
