Buenos Aires Province Readies Bond Sale as Costs Sink

Buenos Aires’s borrowing costs are falling to a two-month low relative to Argentina, prompting the country’s biggest province to move forward with plans to sell its first international bond since 2007.

The province’s 9.375 percent bonds due in 2018 yield 281 basis points, or 2.81 percentage points, more than Argentine bonds, near the 274 basis point gap yesterday which was the smallest since May 20, according to data compiled by Bloomberg and JPMorgan Chase & Co.