Argentina’s Impsa Postpones Dollar Bond Sale as Investors Balk
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Argentine wind-farm operator Industrias Metalurgicas Pescarmona SA postponed a dollar bond sale as investors demanded higher yields than the company was willing to pay.
Impsa, as the Mendoza, Argentina-based company is known, had been planning to sell five-year notes overseas to yield about 11 percent, Carla Paira, a press official, said in an e-mailed response to questions. Existing bonds due in 2020 tumbled, pushing yields up 1.08 percentage points to a four-month high of 13.35 percent at 1:30 p.m. New York time, according to data compiled by Bloomberg.