Argentina’s Neuquen province is planning to raise $260 million through the sale of bonds, NASDAQ reports. The new bonds, Ticap’s, will mature in 2021 and will be secured by oil royalties. The province requires approval from over 50% of the holders of its $250 million 2014 bonds before issuing the new debt. The proceeds from the debt sale will be used by redeem existing debt and finance specific construction projects.

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