Argentina's third export-related CLO in as many months closed Feb. 21. Amounting to US$15 million, the 185-day transaction priced at an annualized 7.5%. The price on the coupon-free bond came at 101.28. Fitch Ratings gave the deal A3(arg)' on the short-term national scale.
On Nov. 27, HSBC Bank Argentina priced a US$6.1 senior tranche of a seven-month securitization of loans to farmers. Also rated A3(arg)' by Fitch, that deal priced at 7% (see ASR 12/9/02, p.18). Both were designed for domestic institutional investors.