Following a four-month delay, BBV Securities Inc. is ready to launch a $94.4 million securitization of receivables for Representaciones de Telecomunicaciones S.A. (RTSA), a leading telecommunications company in Argentina.

A small portion of the offering will be marketed to local investors in Argentina and the reminder to U.S. investors under Rule 144A. In contrast with the structure that was expected in May, the deal now features a credit default swap, in response to investor requests.

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