Argentina issued a Treasury bill of up to $5.7 billion to be bought in several installments by the central bank, according to a statement in the official gazette.
The central bank will use international reserves to pay for the note, issued on April 20. Argentina will use the funds to pay debt.
The full amount of the note will be paid on maturity in ten years. Interest will be paid every six months and equals the rate on the central bank’s international reserves, up to a maximum of the so-called libor rate minus one percentage point, according to the notice.