BUENOS AIRES, Argentina — Argentina’s government says it has struck a deal to borrow $6 billion from a group of six banks.
Finance Minister Luis Caputo said Thursday that the 18-month financing agreement will reduce the risk of uncertainty and secure a portion of the country’s planned $20 billion financing debt for 2017.
The loan deal reduces Argentina’s need to tap international credit markets at higher interest rates this year.
Caputo says Argentina hopes to issue about $5 billion in dollar-denominated bonds and $2 billion in peso-denominated bonds.
The banks in the deal are BBVA Frances, Citibank, Deutsche Bank, HSBC, J.P. Morgan Chase and Santander.