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International bonds: Argentina, 4.625% 11jan2023, USD (A2E3D, US040114HP86, 040114HP8)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingArgentina**/**/****1,750,000,000 USD***/***/***
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Yield calculation

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Issue information

BorrowerArgentina
Bond typeCoupon bonds
Placement methodOpen subscription
Placement typePublic
Issue purposeShow
Issue purpose
The net proceeds from the sale of the Bonds will be approximately U.S.$8,921,475,000, after deduction of the underwriting discount and certain commissions payable by the Republic estimated at U.S.$10,800,000 in the aggregate. The Republic intends to use the net proceeds of the sale of the Bonds for general purposes of the Government. Unless otherwise specified in a prospectus supplement, the Republic will use the net proceeds from the sale of securities for the general purposes of the Government, including the refinancing, repurchase or retirement of its domestic and external indebtedness.
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount1,000 USD
Outstanding principal amount1,000 USD
Amount1,750,000,000 USD
Outstanding face value amount1,750,000,000 USD
Placement date**/**/****
Maturity date**/**/****
Redemption price100%
Other tranchesArgentina, 5.875% 11jan2028, USD, Argentina, 6.875% 11jan2048, USD
Floating rateNo
Coupon Rate*.***%
Current coupon rate4.625%
Day count fraction***
ACI*** (10/15/2019)
Coupon frequency2 time(s) per year
Interest accrual date**/**/****
Trading floor, trading codeBYMA (trades settled in ARS in Argentina), A2E3; BYMA (trades settled in USD in Argentina), A2E3D; BYMA (trades settled in USD through foreign accoun, A2E3С; MAE, A2E3D
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/.
10/14/2019*** / *** (*** / ***)*** (***)******Archive
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Bond Quotes by Market Participants

Market participantDate and timeBid/ask or last price
(Yield)
Anonymous participant 3110/15/2019 19:39**.** / **.**
(**.** / **.*)
Auriga Global Investors10/15/2019 19:39**.** / **.**
(**.** / **.**)
Baader Bank10/14/2019**.* / -
(**.** / -)
Anonymous participant 2010/11/2019**.**
(**.**)
Anonymous participant 1910/11/2019**.****
(**.**)
Banco Comafi10/11/2019**.**
(**.**)
Zurich Cantonal Bank10/11/2019**.** / **.**
(**.** / **.*)
BCP Securities10/11/2019**.** / **.*
(**.** / **.**)
Nobilis Corredor de Bolsa S.A.10/11/2019**.*** / **.***
(**.** / **.*)
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Price chart

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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.
FRANKFURT S.E.10/15/2019 19:58**.* / **.*** (**.** / **.**)**.**** (**.**)
BERLIN EXCHANGE
i
Foreign bonds compliment the international security selection at Börse Berlin. In Germany many of these are traded only in Berlin. Naturally Börse Berlin has the full range of fixed interest securities of the German Federation and its constituencies with bonds from companies and other issuers also on offer. Certificates and warrants round off the security offering in Berlin.
10/15/2019 19:57**.** / * (**.** / **.**) (**.**)
DUSSELDORF SE10/15/2019 18:50**.** / **.** (**.** / **.**)**.** (**.**)
MUNICH SE10/15/2019 20:22**.*** / **.*** (**.** / **.**)**.*** (**.**)
STUTTGART EXCHANGE10/15/2019*** / *** (*** / ***)*** (***)******Archive
EUROTLX
i
EuroTLX SIM S.p.A. manages the Multilateral Trading Facility (MTF) EuroTLX, targeted to the non-professional investors’ needs and mainly focused on fixed income securities.
10/15/2019*** / *** (*** / ***)*** (***)******Archive
FRANKFURT S.E.10/14/2019*** / *** (*** / ***)*** (***)******Archive
BERLIN EXCHANGE
i
Foreign bonds compliment the international security selection at Börse Berlin. In Germany many of these are traded only in Berlin. Naturally Börse Berlin has the full range of fixed interest securities of the German Federation and its constituencies with bonds from companies and other issuers also on offer. Certificates and warrants round off the security offering in Berlin.
10/14/2019*** / *** (*** / ***)*** (***)******Archive
DUSSELDORF SE10/14/2019*** / *** (*** / ***)*** (***)******Archive
TRADEGATE
i
Tradegate Exchange is a Berlin-based regulated market. Tradegate’s focus is on retail market.
10/14/2019*** / *** (*** / ***)*** (***)******Archive
QUOTRIX
i
QUOTRIX is the electronic trading system of the Dusseldorf stock exchange for private investors.
10/14/2019*** / *** (*** / ***)*** (***)******Archive
MUNICH SE10/14/2019*** / *** (*** / ***)*** (***)******Archive
LUXEMBOURG S.E.10/14/2019*** / *** (*** / ***)*** (***)******Archive
BYMA (TRADES SETTLED IN USD IN ARGENTINA)
i
Bolsas y Mercados Argentinos (BYMA) is the main stock exchange in Argentina which combines stock exchange operators Mercado de Valores (MERVAL), Bolsa de Comercio de Buenos Aires (BCBA) and other national exchanges. Depending on the currency of settlements and deal’s type (deals settled through national or foreign accounts) several trading codes are assigned to each security. BYMA started trading on 23 May, 2017.
10/11/2019*** / *** (*** / ***)*** (***)******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 numberA2E3D
ISIN / ISIN RegSUS040114HP86
CUSIP / CUSIP RegS040114HP8
Common Code / Common Code RegS174912572
CFI / CFI RegSDBFUFR
FIGI / FIGI RegSBBG00JPCSCH9
WKN / WKN RegSA19UN4
SEDOLBYZPWC3
TickerARGENT 4.625 01/11/23

Primary placement

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

Participants

Bookrunner: Citigroup, Deutsche Bank, HSBC
Depository: Euroclear Bank, Clearstream Banking S.A., DTCC
Paying agent: BNY Mellon
Trustee: BNY Mellon
Arranger Legal Adviser (International law): Shearman & Sterling
Issuer Legal Adviser (Domestic law): Bruchou, Fernandez Madero & Lombardi
Issuer Legal Adviser (International law): Cleary Gottlieb Steen & Hamilton

Payment schedule

*****

Coupon dateActual Payment 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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Issue ratings

Argentina, 4.625% 11jan2023, USD

Rating AgencyRating / OutlookScaleDate
Moody's Investors Service ***/***LT- foreign currency08/30/2019
S&P Global Ratings***/***Foreign Currency LT08/29/2019
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Issuer ratings

Argentina

Rating AgencyRating / OutlookScaleDate
Dagong Global***/***International scale rating (local curr.)05/09/2018
Dagong Global***/***International scale rating (foreign curr.)05/09/2018
Fitch Ratings***/***LT Int. Scale (local curr.)09/03/2019
Fitch Ratings***/***LT Int. Scale (foreign curr.)09/03/2019
Moody's Investors Service ***/***LT- foreign currency08/30/2019
Moody's Investors Service ***/***LT- local currency08/30/2019
Organisation for Economic Co-operation and Development (OECD)***/***Country Risk Classifications06/25/2018
S&P Global Ratings***/***Foreign Currency LT08/30/2019
S&P Global Ratings***/***Local Currency LT08/30/2019
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