The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Argentina: Companies look to new funding sources

Since the global crisis took hold, Argentina’s corporates have struggled to source funding in the capital markets. Working capital needs are thus driving corporates to explore other financing avenues such as loans from multilateral agencies, commercial banks and the newly nationalized pension funds.

Lending activity is beginning to pick up, especially for deals that involve co-lending between multilateral agencies and commercial banks. Pan American Energy (PAE), a local oil and gas company, is poised to receive a $100 million A/B loan this month, with commercial banks providing $80 million and the International Finance Corporation, the World Bank’s private-sector arm, and CAF, the Andean Development Bank, the rest. The IFC’s board will discuss the potential loan in the coming weeks. The multilateral has begun to syndicate it out.

Sweet loans
The PAE loan follows one for Arcor, a confectionery manufacturer, which was finalized in May. Arcor received $100 million, of which the IFC provided $20 million and Santander, Citi, Rabobank, BNP Paribas and Standard Chartered $80 million.

"We have the facilities to extend our loans out. We are being counter-cyclical. Today we are working very well with the commercial banks"

Enrique Canas, IFC

The IFC also closed a $40 million loan for soya bean processing company Noble Argentina on July 16.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree