Raghsa 7.25% high yield issue and 8.5% notes exchange offer

Overview:

• Raghsa, an Argentina real estate company, has  issued $100 million 7.25% high yield notes due 2024.
• The company also exchanged 34% of its outstanding $56.888 million 8.5% notes due 2021 for $19.8 million 7.25% notes due 2024. 
• Itau BBA USA Securities and UBS Securities acted as initial purchasers and dealer managers.
• The Bank of New York Mellon acted as trustee, paying agent, transfer agent and registrar. 
• The issuer used some of the funds from the offer to buy a construction site in Buenos Aires, where the company will develop a new real estate project.

Rani Mehta - Journalist