|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Friday 16th of April 2010
May 3, 2005    

Argentina offers bond in return to debt markets

Bookmark and Share

by Brian Turner
Argentina offers bond in return to debt markets

Argentina will return on Wednesday to the debt market for the first time since that nation’s financial collapse three and a half years ago. The new issue is a modest 1 billion pesos but is seen as a way of returning to normal.

The decision to go ahead with the issue despite continuing litigation in New York over the rejection by a small group of investors of a $100 billion dept restructuring offered by Argentina in February is seen as Argentina’s way of testing market waters after its absence.

According to analysts, there is also a practical reason for the bond offering to be pursued at this time. The Argentine government this week paid out around $370 million on a series of Boden bonds that had come due.

The current bond issue would reach that sum almost precisely if it is fully subscribed. It is believed that most of the new issue would be taken up by local banks and pensions funds, though there might also be interest by some foreign investors.

Discuss this in the Finance Markets forums

Story link: Argentina offers bond in return to debt markets




Related financial stories to: Argentina offers bond in return to debt markets:
Previous: «
Next: »

Visited 660 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment