Santander, BBVA and Deutsche Lead $3 Billion Repo for Argentina

Argentina secured a $3 billion loan from a group of international banks to help cover a foreign debt payment due in two days and replenish the country’s depleted coffers.

The central bank reached a one-year repurchase agreement — or repo — with the lenders at a rate of 7.4%, it said in a statement early Wednesday.

Six international banks took part in the deal, according to two people familiar with the matter who asked not to be identified discussing private information. Banco Santander SA, Banco Bilbao Vizcaya Argentaria SA and Deutsche Bank AG put in about $680 million each, ...