YPF Luz goes out to place ON for $30 mn

YPF Luz announced tomorrow it would launch a public offering for the placement of a series of Negotiable Obligations of the "linked dollar" type for an initial amount of $30 with maturity in 18 months. The public offering scheduled for tomorrow and the closing on the following Friday. The amount could be increased depending on the response of the market, and may also subscribe in pesos.

Rejection of the 30.1% increase in the mandatory tax for COVIAR

Wine establishments throughout the country agreed in their rejection of the 30.1% increase of the mandatory tax to the Argentine Wine Corporation (COVIAR). The budget of the Corporación Vitivinícola Argentina is 140 million pesos a year ($ 2.01 mn). The wineries contribute almost 50% of this total. The 262 partners represent 90% of local exports and about 65% of the domestic market.