Cresud Says It Sold $30 Million of Bonds in Argentine Market

Cresud SACIF y A, Argentina’s largest publicly traded agriculture company, sold $30 million of dollar-linked bonds, the Buenos Aires-based company said today in a filing sent to the market regulator.

Investors paid 105.2 percent of the bond’s face value that carries a 7.75 percent fixed coupon, Cresud said. Cresud received $72 million in offers from investors to buy the bond that will mature on June 23 2014, the company said.

Proceeds from the sale will be used to finance its 2012-2013 crop planting and to repay debt, Cresud said.

To contact the reporter on this story: Pablo Gonzalez in Buenos Aires at pgonzalez49@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

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