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International bonds: Cordoba (province), 7.125% 10jun2021, USD (CO21D, USP79171AD96, P79171AD9)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingArgentina**/**/****725,000,000 USD***/***/***
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Issue information

BorrowerCordoba (province)
Bond typeCoupon bonds
Placement methodOpen subscription
Placement typePublic
Issue purposeShow
Issue purpose
The gross proceeds from the offering of the notes, before commissions and other expenses payable by the Province, will be U.S.$725,000,000. The Province will use the net proceeds from the sale of the notes for any of the following purposes: (i) to pay the purchase price to holders of U.S.$199,995,000 aggregate principal amount of 12.375% Notes due 2017 that were validly tendered and accepted to be purchased by the Province under the terms of the Province’s concurrent tender offer, and (ii) to finance infrastructure projects, other than the gas pipeline and electricity infrastructure projects which have their own independent financing, as described in “Public Sector Finances—Composition of Expenditures—Capital Expenditures—Infrastructure Development Plan.” 31 THE PROVINCE OF C?RDOBA Introduction The Province is the fifth largest of Argentina’s 23 provinces by size with an area of 165,320 square kilometers, and is located in the central part of the country. The following map illustrates the location of the Province in Argentina: C?rdoba C?rdoba History and Heritage Before the Spanish conquest, various tribes lived in the region now called C?rdoba, most notably the Comechingones and Sanavirones. Once settled in Alto Per?, the Spaniards began searching for a route to the R?o de la Plata port on the Atlantic Ocean. C?rdoba de la Nueva Andaluc?a (the Province’s first name) was founded as a midway point on that route on July 6, 1573 by Jer?nimo Luis de Cabrera.
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount100,000 USD
Outstanding principal amount100,000 USD
Amount725,000,000 USD
Outstanding face value amount725,000,000 USD
Placement date**/**/****
Maturity date**/**/****
Redemption price100%
Floating rateNo
Coupon Rate*.***%
Current coupon rate7.125%
Day count fraction***
ACI*** (10/23/2019)
Coupon frequency2 time(s) per year
Interest accrual date**/**/****
Trading floor, trading codeBYMA (trades settled in USD in Argentina), CO21D; BYMA (trades settled in USD through foreign accoun, CO21C; MAE, CO21D; BYMA (trades settled in ARS in Argentina), CO21D
ListingLuxembourg S.E.

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
10/21/2019*** / *** (*** / ***)*** (***)******Archive
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Bond Quotes by Market Participants

Market participantDate and timeBid/ask or last price
(Yield)
Columbus Zuma Investment Banking10/22/2019**.* / **.*
(**.** / **.**)
Anonymous participant 3110/22/2019**.** / **.**
(**.** / **.**)
Anonymous participant 2010/21/2019**.*
(**.**)
BCP Securities10/21/2019**.* / **.*
(**.** / **.*)
Banco Comafi10/18/2019**.**
(**.**)
Anonymous participant 3210/18/2019**.** / **.**
(**.* / **.**)
UCAP Asset Management10/16/2019**.**** / **.****
(**.** / **.**)
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Stock exchange and OTC quotes

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
STUTTGART EXCHANGE10/21/2019*** / *** (*** / ***)*** (***)******Archive
LUXEMBOURG S.E.10/21/2019*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

State registration numberCO21D
ISIN / ISIN RegSUSP79171AD96
ISIN 144AUS74408DAC83
CUSIP / CUSIP RegSP79171AD9
CUSIP 144A74408DAC8
CFI / CFI RegSDBFUGR
CFI 144ADBFUGR
FIGI / FIGI RegSBBG00D1PNKW9
WKN / WKN RegSA182VD
WKN 144AA182YV
SEDOLBYQLS77
FIGI 144ABBG00D1LYKN6
TickerPDCAR 7.125 06/10/21 REGS

Primary placement

Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield)***% (*.**%)
Settlement Duration*.**

Participants

Bookrunner: JP Morgan, Morgan Stanley
Issuer Legal Adviser (International law): Shearman & Sterling
Arranger Legal Adviser (International law): Milbank, Tweed, Hadley & McCloy
Arranger Legal Adviser (Domestic law): Salaverri, Dellatorre, Burgio & Wetzler Malbran Abogados
Paying agent: Deutsche Bank Trust Company Americas
Trustee: Deutsche Bank Trust Company Americas

Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/*****.****,***.*
2**/**/*****.****,***.*
3**/**/*****.****,***.*
4**/**/*****.****,***.*
5**/**/*****.****,***.*
6**/**/*****.****,***.*
7**/**/*****.****,***.*
8**/**/*****.****,***.*
9**/**/*****.****,***.*
10**/**/*****.****,***.****,***
Show following
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Early redemption terms

*****

DateOption typeOption styleBenchmark spread, b.p.Until datePrice
Show previous
**/**/****callMake-Whole Call****/**/****
Show following
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Issue ratings

Cordoba (province), 7.125% 10jun2021, USD

Rating AgencyRating / OutlookScaleDate
Moody's Investors Service ***/***LT- foreign currency09/03/2019
S&P Global Ratings***/***Foreign Currency LT08/20/2019
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Issuer ratings

Cordoba (province)

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (local curr.)09/11/2019
Fitch Ratings***/***LT Int. Scale (foreign curr.)09/11/2019
Fix Scr - affiliate of Fitch***/***LT national scale rating (Argentina)04/17/2018
Fix Scr - affiliate of Fitch***/***LT foreign currency rating08/12/2019
Fix Scr - affiliate of Fitch***/***LT local currency rating08/12/2019
Moody's Investors Service ***/***LT- local currency09/03/2019
Moody's Investors Service ***/***LT- foreign currency09/03/2019
S&P Global Ratings***/***Foreign Currency LT08/20/2019
S&P Global Ratings***/***Local Currency LT08/20/2019
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