Argentina secured a US$3-billion loan from a group of international banks to help cover a foreign debt payment due in two days and replenish the country’s depleted coffers.
The Central Bank reached a one-year repurchase agreement – or repo – with the lenders at a rate of 7.4 percent, it said in a statement early Wednesday.
Six international banks took part in the deal, according to two people familiar with the matter who asked not to be identified discussing private information. Banco Santander SA, Banco Bilbao Vizcaya Argentaria SA and Deutsche Bank AG put in about US$680 million each, the people said, with US$510 million coming from Goldman Sachs Group Inc, US$340 million from JPMorgan Chase & Co.
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