International bonds: Banco Macro, 17.5% 8may2022, ARS (BACBO, USP1047VAG25)

Name: International bonds: Banco Macro, 17.5% 8may2022, ARS (BACBO, USP1047VAG25)
Creator: Cbonds
License: https://creativecommons.org/licenses/by/4.0/

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Dual currency bonds

Issue | Borrower

Borrower

Fix SCR

- | ***

***

Status

Matured

Amount

2,889,191,000 ARS

Placement

***

Redemption (put/call option)

*** (-)

ACI on

Country of risk

Argentina

Current coupon

Price

Yield / Duration

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Calculator

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Placement amount

4,620,570,000 ARS
Outstanding amount

2,889,191,000 ARS
Minimum Settlement Amount

1,000,000 ARS
ISIN RegS

USP1047VAG25
CFI RegS

DBFUGR
FIGI RegS

BBG00GMDNHL5
SEDOL

BYX1NT7
Ticker

BMAAR 17.5 05/08/22 REGS

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Files

Release and placement notices

Prospectus

Prospectus

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Quotes from market participants are indicative

Stock exchange and OTC quotes

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Issue information

Profile

Banco Macro is the largest domestically-owned private bank in Argentina. It was founded in 1976 as a brokerage specializing in arbitrage, under the name Financiera Macro. It provides banking products and services to individuals, entrepreneurs, companies, and corporate customers. It offers various retail products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, car loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfer services. The company also provides personal loans, document discounts, mortgages, overdrafts, pledged loans, and credit card loans to retail customers. Its corporate banking products and services include deposits, lending, check cashing advances and factoring, guaranteed loans, and credit lines for financing foreign trade, and cash management services. Further, the company offers trust, payroll, and financial agency services, as well as corporate credit cards; and transaction services, such as cash management, customer collections, payments to suppliers, payroll administration, foreign exchange transactions, foreign trade services, corporate credit cards, and information services, such as Datanet and Interpymes services to corporate customers; and Internet banking services. The company is headquartered in Buenos Aires, Argentina.

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Borrower

Go to the issuer page
Banco Macro
Full borrower / issuer name

Banco Macro
Sector

Corporate
Industry

Banks
Stocks

Banco Macro, ordinary share
Banco Macro, ordinary share
Banco Macro, depositary receipt

Volume

Placement amount

4,620,570,000 ARS
Outstanding amount

2,889,191,000 ARS

Face value

Minimum Settlement Amount

1,000,000 ARS
Outstanding face value

*** ARS
Increment

*** ARS
Face value

1,000 ARS

Listing

Listing

***

Cash flow parameters

Reference rate

***

Coupon Rate

***

Day count convention

***

Business Day Convention

Following Business Day

Interest Accrual Date

***

Coupon frequency

*** time(s) per year
Payment currency

***
Maturity date

***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

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Early redemption terms

***

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800 000

bonds globally

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pricing sources

80 000

stocks

9 000

ETF

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Why

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Placement

Placement method

Open subscription
Placement type

Public
Placement

***
Initial issue price (yield)

(***%)
Geographic breakdown

***
Investor breakdown

***
The purpose of placing

Our gross proceeds from the issuance and sale of the Notes are expected to be approximately US$300 million, before deduction of fees and expenses. Our net proceeds from the issuance and sale of the Notes are expected to be approximately US$298.950 million. The company intends to use the net proceeds from the issuance of the Notes (i) to refinance certain debt in the normal course of business, (ii) to make loans consistent with our commercial strategy and in accordance with Central Bank guidelines and (iii) for general working capital in Argentina, including to increase our liquidity levels and/or finance investment projects, in each case in accordance with the provisions of Article 36 of the Negotiable Obligations Law, Communication A 5390 of the Central Bank, as amended, and other applicable regulations. We will use any net proceeds of the issuance of notes under this program in compliance with the requirements of Article 36 of the Negotiable Obligations Law, Communication A 3046, of the Central Bank, as amended and modified by Communication A 5390, and other applicable regulations, as specified in the applicable pricing supplement and for the following purposes: - working capital in Argentina; - investments in tangible assets located in Argentina; - refinancing of outstanding debt; - contributions to the capital of a controlled or related corporation, provided that the latter uses the proceeds of such contribution for the purposes set forth above; or - making loans in accordance with Central Bank regulations provided that such loans are used for any of the above purposes.

Participants

Bookrunner

***, ***
Depository

***, ***
Arranger Legal Adviser (Domestic law)

***
Arranger Legal Adviser (International law)

***
Issuer Legal Adviser (Domestic law)

***
Issuer Legal Adviser (International law)

***
Paying agent

***
Trustee

***

Conversion and exchange

Conversion terms

***

Covenants

Change of Control
***
Collective Action Clause
***
Covenant Suspension/Fall-Away
***
Cross Default
***
Designation of Restricted and Unrestricted Subsidiaries
***
Events of Default
***
Financial Covenants
***
Limitation on Business Activities
***
Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
***
Limitation on Indebtedness
***
Limitation on Investments
***
Limitation on Liens
***
Limitation on Restricted Payments
***
Limitation on Sale of Assets
***
Limitation on Sale/Leaseback
***
Limitation on Subsidiary Debt
***
Limitation on layering (anti-layering)
***
Limitations on transactions with affiliates
***
Merger Restrictions
***
Others
***
Rating Trigger
***

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Additional information

Latest issues

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News

28/02/2024	Banco Macro Announces Results for the Fourth Quarter of 2023
22/11/2023	Banco Macro Announces Results for the Third Quarter of 2023
08/08/2023	Fitch Ratings affirms Banco Macro at "CCC-" (LT Int. Scale (foreign curr.) credit rating)
08/08/2023	Fitch Ratings affirms Banco Macro at "CCC-" (LT Int. Scale (local curr.) credit rating)
07/08/2023	Fitch Affirms Banco Macro S.A.'s IDRs at 'CCC-' (Rating action commentary)

All organization news

IFRS/US GAAP reports

2022
I q NTL
II q NTL

	IV q eng
2021
I q NTL	I q eng
II q NTL	II q eng
III q NTL
	IV q eng
2020
I q NTL	I q eng
II q NTL	II q eng
III q NTL	III q eng
IV q NTL	IV q eng
2019
I q NTL	I q eng
II q NTL	II q eng
III q NTL	III q eng
IV q NTL	IV q eng
2018
I q NTL	I q eng
II q NTL	II q eng
III q NTL	III q eng
IV q NTL	IV q eng
2017



IV q NTL

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Identifiers

State registration number

BACBO
ISIN RegS

***
ISIN 144A

***
CUSIP RegS

***
CUSIP 144A

***
CFI RegS

DBFUGR
CFI 144A

DBFUGR
FIGI RegS

BBG00GMDNHL5
FIGI 144A

BBG00GK3JG45
WKN 144A

A19HBN
SEDOL

BYX1NT7
Ticker

BMAAR 17.5 05/08/22 REGS
Type of security by CBR

***

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Ratings

Bond classification

Rank: Undefined
Registered
Coupon bonds
Dual currency bonds
Amortization
Callable
CDO
Convertible
Variable rate
For qualified investors (CIS region)
Foreign bonds
Green bonds
Guaranteed
Inflation-linked principal
Supranational bond issues
Inflation-linked coupon
Mortgage bonds
Perpetual
Payment-in-kind
Non-Marketable Securities
Redemption Linked
Restructuring
Retail bonds
Covered
Securitization
Structured product
Commercial Bonds
Subordinated
Sukuk
Trace-eligible

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Restructuring

***