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International bonds: Banco Galicia, 8.25% 19jul2026, USD (USP0R66CAA64, P0R66CAA6)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingArgentina**/**/****250,000,000 USD***/***/***
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Yield calculation

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Issue information

BorrowerBanco Galicia
Bond typeCoupon bonds
Placement methodOpen subscription
Placement typePublic
Issue purposeShow
Issue purpose
The Issuer expects to receive net proceeds from the sale of the Notes of approximately US$247.8 million after deducting commissions and estimated transaction expenses. The Issuer intends to use the net proceeds from the sale of the Notes to redeem US$218.2 million principal amount of its outstanding Subordinated Notes due 2019 and to repay US$11.8 million principal amount of its outstanding subordinated loans due 2019 (US$10 million of which is held by Grupo), in each case together with accrued and unpaid interest thereon, as soon as practicable following the issuance of the Notes. The redemption of the Issuer’s Subordinated Notes due 2019 and subordinated loans due 2019 was authorized by the Superintendency of the Argentine Central Bank on June 22, 2016, through Resolution No. 328. The Issuer’s Subordinated Notes due 2019 and subordinated loans due 2019 mature on January 1, 2019 and currently bear interest at a rate of 11% cash plus 5% paid in kind. Pending such use of the net proceeds, the Issuer may invest the proceeds in certain permitted investments.
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount200,000 USD
Outstanding principal amount200,000 USD
Amount250,000,000 USD
Outstanding face value amount250,000,000 USD
Placement date**/**/****
Maturity date**/**/****
Redemption price100%
Floating rateYes
Reference rate5Y UST Yield
Margin7.16
Coupon RateShow
Coupon Rate
*.**% to **.**.****, then *Y UST Yield + *.***%
Current coupon rate8.25%
Day count fraction***
ACI*** (10/22/2019)
Coupon frequency2 time(s) per year
Interest accrual date**/**/****
Trading floor, trading codeBCBA (trades settled in ARS in Argentina), BYC2O; BYMA (trades settled in ARS in Argentina), BYC2O
ListingLuxembourg S.E.

Related issues

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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)
Anonymous participant 2010/21/2019**.*
()
BCP Securities10/21/2019**.* / **.*
()
Anonymous participant 3210/18/2019**.** / **.**
()
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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.
LUXEMBOURG S.E.10/17/2019*** / *** (*** / ***)*** (***)******Archive
FINRA TRACE10/17/2019*** / *** (*** / ***)*** (***)******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

ISIN / ISIN RegSUSP0R66CAA64
ISIN 144AUS059538AR97
CUSIP / CUSIP RegSP0R66CAA6
CUSIP 144A059538AR9
CFI / CFI RegSDBFUGR
CFI 144ADBFUGR
FIGI / FIGI RegSBBG00DBK9PG2
WKN / WKN RegSA184E5
WKN 144AA184GB
SEDOLBYP33J1
FIGI 144ABBG00D9VGHX2
TickerGALIAR V8.25 07/19/26 REGS

Primary placement

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

Participants

Bookrunner: Deutsche Bank, JP Morgan
Issuer Legal Adviser (International law): Gibson, Dunn & Crutcher
Issuer Legal Adviser (Domestic law): Tanoira Cassagne
Arranger Legal Adviser (International law): Milbank, Tweed, Hadley & McCloy
Arranger Legal Adviser (Domestic law): Estudio Beccar Varela

Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/*****.***,***
2**/**/*****.***,***
3**/**/*****.***,***
4**/**/*****.***,***
5**/**/*****.***,***
6**/**/*****.***,***
7**/**/*****.***,***
8**/**/*****.***,***
9**/**/*****.***,***
10**/**/*****.***,***
11**/**/****
12**/**/****
13**/**/****
14**/**/****
15**/**/****
16**/**/****
17**/**/****
18**/**/****
19**/**/****
20**/**/*******,***
Show following
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Issue ratings

Banco Galicia, 8.25% 19jul2026, USD

Rating AgencyRating / OutlookScaleDate
Moody's Investors Service ***/***LT- foreign currency09/04/2019
S&P Global Ratings***/***Foreign Currency LT11/13/2018
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Issuer ratings

Banco Galicia

Rating AgencyRating / OutlookScaleDate
Moody's Investors Service ***/***LT- foreign currency09/04/2019
Moody's Investors Service ***/***LT- local currency09/04/2019
S&P Global Ratings***/***Foreign Currency LT09/02/2019
S&P Global Ratings***/***Local Currency LT09/02/2019
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